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On Fri, 27 Sept, 4:05 PM UTC
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BUSINESSNEXT and MongoDB team up to accelerate digital transformation in financial services
Collaboration will enable banks to create hyper-scalable digital solutions, delivering cutting edge, AI driven customer journeys and experiences across products, services, and channels BUSINESSNEXT, a global leader in composable enterprise solutions for the financial services sector, today announced a partnership with MongoDB to accelerate digital transformation in the financial services industry. Headquartered in New York, MongoDB empowers innovators to create, transform, and disrupt industries with the power of software and data. The collaboration between BUSINESSNEXT and MongoDB will empower banking, insurance, and financial institutions with the tools and technology needed to deliver exceptional customer experiences and drive digital transformation. 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. BUSINESSNEXT's suite of solutions, including CRMNEXT, CUSTOMERNEXT, DATANEXT, and WORKNEXT, leverages specialized AI models to automate, streamline, and personalize customer experiences across retail banking, corporate banking, and insurance. 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 personalized customer journeys, optimize lending processes, and to make data-driven decisions. "We are excited to partner with MongoDB to deliver cutting-edge solutions to our financial services clients," said [Name], [Title] at BUSINESSNEXT. "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." "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," said Sachin Chawla, Vice President, India and South Asia at MongoDB. "This partnership will help a large number of financial services organizations to accelerate their modernization initiatives and use AI to drive differentiation." Key benefits of the partnership include: Enhanced customer experiences: Leveraging specialized and hyper-scalable AI-capabilities to deliver highly personalized customer interactions and journeys.Accelerated lending processes: The combination of BUSINESSNEXT's smart credit engines and MongoDB's flexible data platform will deliver smart automation across lending operations with improved efficiency.Improved operational efficiency: By automating back-office processes and leveraging MongoDB's scalability, banks can reduce costs and enhance productivity.Strengthened risk management: MongoDB's robust and scalable data management capabilities will support BUSINESSNEXT's risk rating and credit approval models, enabling banks to mitigate frauds, cyber security threats and continuous risk monitoring capabilities. This partnership marks a significant milestone for both BUSINESSNEXT and MongoDB, and it is expected to drive significant value for financial institutions worldwide. About BUSINESSNEXT BUSINESSNEXT is a universe of composable enterprise solutions for banks, insurance and financial services globally. Recognized as a LEADER in Forrester Wave for Financial Services CRM. It leverages technology, innovation, and experience to relentlessly deliver incredible, unique, and human experiences, acing the volatile and complex business environment. BUSINESSNEXT platforms namely CRMNEXT, CUSTOMERNEXT, DATANEXT & WORKNEXT are AI and ML-driven cloud-native platforms dedicated to enabling digital transformations. It comprises an enriched portfolio of hyper SaaS modular solutions that are responsive, can readily plug & play, and have superlative integration capabilities with the ecosystem. BUSINESSNEXT today powers 1 million+ users across 65,000 branches and call centers, managing 1 billion end customers worldwide. BUSINESSNEXT has its USA headquarters in Raleigh, North Carolina, and its international headquarters in Noida, India. It has a footprint across 5 continents and direct offices in 14 countries across the U.S.A, MEA, and APAC.
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Businessnext and MongoDB partner to push autonomous ops in financial services
This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Headquartered in New York, MongoDB empowers innovators to create, transform, and disrupt industries with the power of software and data. 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. 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. BUSINESSNEXT's suite of solutions to drive autonomous banking includes real-time AI at the core powering modern CRM, digital journeys, lending platforms, risk-rating platforms, workforce assistants, customer chatbots and more. 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 personalized customer journeys, optimize lending processes, and make data-driven decisions. "We are excited to partner with MongoDB to deliver cutting-edge solutions to our financial services clients," said Sushil Tyagi, Executive Director at BUSINESSNEXT. "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." "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," said Sachin Chawla, Vice President, India and South Asia at MongoDB. "This partnership will help a large number of financial services organizations to accelerate their modernization initiatives and use AI to drive differentiation," added Chawla. Key benefits of the partnership include: This partnership marks a significant milestone for both BUSINESSNEXT and MongoDB, and it is expected to drive significant value for financial institutions worldwide.
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BusinessNext and MongoDB have announced a strategic partnership aimed at driving digital transformation and autonomous operations in the financial services sector. This collaboration combines BusinessNext's AI-powered enterprise solutions with MongoDB's developer data platform.
BusinessNext, a global provider of AI-powered enterprise solutions, has joined forces with MongoDB, the developer data platform, in a strategic partnership aimed at accelerating digital transformation in the financial services industry 1. This collaboration is set to revolutionize how financial institutions leverage technology to enhance their operations and customer experiences.
The partnership brings together BusinessNext's expertise in AI-powered enterprise solutions and MongoDB's robust developer data platform. By integrating these technologies, the alliance aims to provide financial institutions with cutting-edge tools to streamline their digital transformation journey 2.
A key aspect of this collaboration is the push towards autonomous operations in financial services. The integration of BusinessNext's solutions with MongoDB's platform is expected to enable financial institutions to automate and optimize various aspects of their operations, leading to increased efficiency and reduced manual intervention 2.
The partnership is set to significantly improve customer experiences in the financial sector. By leveraging AI and advanced data management capabilities, financial institutions can offer more personalized and responsive services to their clients 1.
BusinessNext's flagship product, the Autonomous Banking Platform, will be powered by MongoDB's developer data platform. This integration is expected to enhance the platform's capabilities in areas such as real-time data processing, scalability, and security 12.
The collaboration between BusinessNext and MongoDB is poised to have a substantial impact on the financial services industry. It aims to address key challenges faced by financial institutions, including the need for rapid digital transformation, improved operational efficiency, and enhanced customer engagement 1.
As the partnership unfolds, both companies express optimism about the potential for innovation in the financial services sector. The combined technologies are expected to enable financial institutions to stay ahead in an increasingly competitive and digitally-driven market landscape 2.
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MongoDB announces expanded collaboration with Microsoft, introducing new integrations for AI-driven applications and data analytics. The partnership aims to enhance AI capabilities, improve real-time insights, and provide flexible deployment options for customers.
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MongoDB announces the expansion of its AI Applications Program (MAAP) with new partners, enhancing its ecosystem to help organizations leverage AI technologies more effectively. The company also reveals collaboration with Meta on Llama models and introduces improvements to its vector search capabilities.
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MongoDB, a leading database platform, has joined forces with India's All India Council for Technical Education (AICTE) to provide free database education to half a million students. This initiative aims to bridge the skills gap in the rapidly evolving tech industry.
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MongoDB announces the general availability of MongoDB 8.0, offering significant performance improvements, enhanced security features, and improved scalability. This update aims to meet the growing demands of enterprise applications and developer needs.
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MongoDB has acquired Voyage AI for $220 million to integrate advanced embedding and reranking models, aiming to improve the accuracy and reliability of AI-powered applications.
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