India’s SunTec cements foothold in Australia, New Zealand

SunTec Business Solutions has started operations in Melbourne as part of efforts to increase focus on the Australia and New Zealand markets.

This move comes after SunTec’s recent launch of Xelerate Digital Core, “an extremely low risk approach” for banks to accelerate their digital transformation drive without having to replace their functionally stable legacy core systems.

Also, SunTec’s expansion comes at a time when many large banks in Australia and New Zealand are embracing customer centric transformation, to stay ahead of the competition.

In addition, the recent regulatory requirements to improve standards and transparency, prevent misconduct and immediate remediation of customers makes it imperative for banks to act fast.

Banks are battling legacy issues while looking for technologies that can help them to quickly connect with the fintech ecosystem, create innovative products and own the customer experience.

Xelerate Digital Core promises to address all these and simplify the process by providing an intelligent and flexible middle layer that helps banks embrace a progressive digital transformation strategy. 

“Australia and New Zealand bear strategic significance in our growth plans,” said Nanda Kumar, CEO of SunTec. “Setting up operations in Australia is a logical next step as it allows us to be close to our customers, strengthen our support and demonstrate our commitment to the region”.

SunTec is headquartered in India and has operations in the United States, United Kingdom, Germany, Singapore and United Arab Emirates.

The Australia and New Zealand operations, which were being handled by the Singapore office will now be managed directly by the Melbourne office.