BUSINESSNEXT-MongoDB Collaboration Powering Autonomous Operations In Financial Services

KUALA LUMPUR, Sept 30 (Bernama) -- BUSINESSNEXT, a global leader in composable enterprise solutions for financial services, has partnered with New York-based MongoDB to accelerate autonomous operations powered with specialised predictive and generative artificial intelligence (Gen AI) for banking and insurance.

According to a statement, the collaboration between BUSINESSNEXT and MongoDB will empower banking and financial services with the technology needed to deliver exceptional customer experiences and drive autonomous operations.

BUSINESSNEXT Executive Director, Sushil Tyagi said the company is excited to partner with MongoDB to deliver cutting-edge solutions to its financial services clients.

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“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,” he said.

Meanwhile, MongoDB Vice President, India and South Asia, Sachin Chawla said: “This partnership will help a large number of financial services organisations to accelerate their modernisation initiatives and use AI to drive differentiation.”

By combining BUSINESSNEXT’s deep expertise in financial services with MongoDB’s flexible, scalable database platform that has industry-leading encryption, access controls, and data protection protocols, the partnership will deliver innovative solutions that address the evolving needs of the industry.

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BUSINESSNEXT’s suite of solutions to drive autonomous banking includes real-time AI at the core powering modern customer relationship management (CRM), digital journeys, lending platforms, risk-rating platforms, workforce assistants, and customer chatbots.

MongoDB’s document-oriented data model, with its flexible schema, nicely complements BUSINESSNEXT’s AI-driven capabilities. The partnership will enable banks to harness the power of their data to create personalised customer journeys, optimise lending processes, and make data-driven decisions.

Key benefits of the partnership include autonomous banking operations; enhanced customer experiences; accelerated lending processes; improved operational efficiency; and strengthened risk management.

This partnership also marks a significant milestone for both companies, and it is expected to drive significant value for financial institutions worldwide.

-- BERNAMA