Businessnext, a composable enterprise solutions provider for the financial services sector, has joined forces with MongoDB to enhance autonomous operations in financial services.
By leveraging predictive and generative artificial intelligence (AI), the alliance aims to expedite autonomous operations for the banking and insurance industries.
Headquartered in New York, MongoDB supports innovators in transforming, creating, and disrupting industries through software and data solutions. The firm’s database platform includes encryption, access controls, and data protection protocols.
The collaboration between Businessnext and MongoDB is expected to deliver the technology required to enhance customer experiences and drive autonomous operations within the banking and financial services sector.
By bringing together Businessnext’s expertise in financial services with MongoDB’s scalable database platform, the partnership seeks to offer innovative solutions to meet the evolving needs of the sector.
MongoDB India and South Asia vice president Sachin Chawla said: “Independent software vendors are an integral part of the enterprise software stack in India, and Businessnext is a great example of the kind of ISV we want to work with.
“This partnership will help a large number of financial services organisations to accelerate their modernisation initiatives and use AI to drive differentiation.”
Businessnext offers a portfolio of AI-driven solutions designed to drive autonomous banking, which includes customer relationship management (CRM), digital journey platforms, lending solutions, risk-rating platforms, workforce assistants, and customer chatbots.
The integration with MongoDB’s document-oriented data model and flexible schema will enable banks to leverage their data for personalised customer journeys, optimised lending processes, and data-driven decision-making.
The partnership is expected to deliver several key benefits to financial institutions, including autonomous banking operations, enhanced operational efficiency, accelerated lending processes, improved customer experiences, and better risk management capabilities.
Businessnext executive director Sushil Tyagi said: “We are excited to partner with MongoDB to deliver cutting-edge solutions to our financial services clients.
“MongoDB’s industry-leading data protection protocols and our ability to handle complex data structures and scale effortlessly aligns with our vision of providing a modern, agile platform for banks.”
Last month, Qatar-based system integrator Mannai InfoTech partnered with Businessnext to boost digital transformation in the Qatari banking sector.
