LTI bags digital banking contract from Hoist Finance

BENGALURU : Larsen & Toubro Infotech (LTI) Ltd has entered into a strategic engagement with Hoist Finance AB, a pan European financial services company, to provide banking-as-a-service for performing loans segment through its digital banking platform.

Financial details of the contract were not disclosed.

LTI’s digital banking platform will enable Hoist Finance to be more scalable with faster on-boarding of new asset classes across regions. “The platform provides seamless interoperability, agility, and higher security at a lower total cost of ownership,” the company said in a statement.

“The strategic partnership with LTI is in line with our growth strategy for performing loans segment in Europe.