BUSINESSNEXT, MongoDB Partner to Drive Financial Services Transformation
BUSINESSNEXT has 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.
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.
“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.
