Hexaware named EBRD’s strategic technology partner for five years
- The EBRD selected Hexaware as strategic technology partner for five years.
- The framework covers the EBRD’s Run-Change-Transform technology portfolio.
- Terms: not disclosed.
- Hexaware will work from onshore and offshore delivery centers.
MUMBAI, INDIA — Hexaware Technologies has been selected as strategic technology partner for the European Bank for Reconstruction and Development (EBRD) under a five-year Strategic Partner Framework covering the bank’s Run-Change-Transform technology portfolio.
Hexaware will work as an integrated part of the EBRD’s technology organization, supported by onshore and offshore delivery centers. Financial terms were not disclosed.
AI inside the bank’s operations
The framework supports the EBRD’s Technology Blueprint, which focuses on efficiency, effectiveness and innovation through processes powered by artificial intelligence (AI), data and intelligent automation. Hexaware announced the selection in a press release on Nov. 5.
The services include software engineering and quality assurance, IT operations and support, security, cloud and data, SAP application support and treasury risk operations.
Hexaware will help embed AI into the bank’s operations and set up a continuous improvement engine to find optimization opportunities and automate processes. It plans to deploy its RapidX, Amaze and Tensai Reasoning Ops frameworks, and the partnership pairs measurable outcomes with fixed capacity and resource augmentation delivery.
“We want our strategic partners operating as part of one team, no matter where they are based geographically,” said Simon Reeves, director of technology at the EBRD.
An existing partner goes deeper
Reeves said the EBRD was pleased to strengthen its relationship with Hexaware as an existing partner.
“This partnership is a significant validation of our AI-native solution delivery model and our commitment to global development and stability,” said Parameshwaran Iyer, executive vice president and head of Europe at Hexaware. He said Hexaware intends to take the same approach to other international financial institutions and multilateral development banks.
A run of European bets
The EBRD deal follows Hexaware’s plan to invest $33 million in the United Kingdom and create 1,200 AI and technology jobs, as we reported in June.
Subhash Jose, the EBRD’s managing director for IT and chief information officer, said the framework would help combine engineering foundations with AI, automation and modern ways of working.
What it means for buyers
For banks and public institutions, the deal shows an Indian IT provider selling AI-led delivery inside a multiyear framework.
The model mixes staff augmentation with outcome targets, so buyers should be clear which work is priced by capacity and which by results.
Companies weighing information technology outsourcing (ITO) can compare providers on OA’s list of the top 50 IT service providers in India.
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