The technology services company will strengthen the European Bank for Reconstruction and Development’s IT infrastructure through AI-driven automation, cybersecurity, cloud modernisation, and intelligent operations.
In a significant development for the global banking technology sector, Hexaware Technologies has secured a five-year technology partnership with the European Bank for Reconstruction and Development (EBRD) to support and modernise the financial institution’s technology operations. The agreement positions Hexaware as a strategic technology partner, with responsibilities spanning software engineering, cloud services, cybersecurity, data analytics, and enterprise application modernisation.
The partnership reflects the growing importance of artificial intelligence, automation, and advanced digital infrastructure in the banking industry, where financial institutions are increasingly investing in technology to improve operational efficiency, strengthen security, and deliver more resilient services.
A Five-Year Technology Partnership to Transform Banking Operations
Under the agreement, Hexaware will support EBRD’s broader technology roadmap, including its Run-Change-Transform portfolio and the bank’s technology blueprint, known as Northstar.
The scope of work covers several critical areas of the bank’s technology ecosystem, including software engineering, IT operations, cybersecurity, cloud infrastructure, data analytics, SAP application support, and treasury risk operations.
Rather than functioning solely as an external technology vendor, Hexaware will become part of EBRD’s technology organisation. The collaboration will follow an integrated delivery model, bringing together onshore and offshore teams to support the bank’s technology requirements.
This approach is designed to encourage closer collaboration between the organisations, streamline technology delivery, and create a more coordinated environment for managing complex banking operations.
The financial terms of the five-year agreement have not been disclosed.
AI and Automation at the Centre of Digital Transformation
A major component of the partnership will be the integration of artificial intelligence into EBRD’s technology operations.
Hexaware plans to introduce AI-driven frameworks and automation capabilities to help identify operational improvements, simplify processes, and enhance service delivery. The objective is to move beyond traditional IT support towards more intelligent, proactive, and efficient technology management.
To support these ambitions, Hexaware will deploy three of its technology platforms:
- RapidX: Designed to support agentic software development and accelerate engineering processes.
- Amaze: Focused on data engineering and modernisation, helping organisations improve their data infrastructure and capabilities.
- Tensai Reasoning Ops: Built to support intelligent operations and AIOps, enabling more advanced approaches to technology management and operational efficiency.
Together, these platforms will help establish a technology environment in which AI and automation can support software development, data management, and IT operations.
The move also reflects a wider shift across the banking sector, where financial institutions are exploring how AI can improve internal workflows while maintaining the reliability, security, and governance standards required in financial services.
EBRD’s Focus on Collaborative Technology Delivery
For EBRD, the partnership represents an opportunity to strengthen its technology capabilities through a more integrated working relationship.
The European Bank for Reconstruction and Development operates across 40 economies and supports economic development through investments and financial activities. Managing technology operations across such a broad international footprint requires scalable infrastructure, robust cybersecurity, and dependable digital systems.
Commenting on the partnership, Simon Reeves, Director of Technology at EBRD, emphasised the importance of working as a unified team with strategic technology partners, irrespective of their geographical locations.
The arrangement builds on an existing relationship between EBRD and Hexaware, providing a foundation for deeper collaboration and a more closely aligned approach to technology delivery.
The emphasis on integrated teams also reflects Hexaware’s forward-deployed engineering capabilities, through which its engineers work directly within client environments to understand operational challenges and develop solutions suited to specific business requirements.
Hexaware Strengthens Its Position in Global Financial Services
The agreement marks another important opportunity for Hexaware to expand its presence in the international financial services technology landscape.
As banks and financial institutions accelerate digital transformation, demand is increasing for technology partners capable of combining software engineering, cloud infrastructure, cybersecurity, data modernisation, and artificial intelligence within a unified service model.
Hexaware’s selection by EBRD highlights the growing relevance of integrated technology partnerships, particularly for institutions seeking to modernise complex systems while maintaining operational continuity.
The company also plans to extend its integrated delivery approach to other international financial institutions and multilateral development banks. This could create further opportunities to bring its AI-enabled technology services to organisations operating in similarly complex financial environments.
The Bigger Picture: AI Is Reshaping Banking Technology
The Hexaware-EBRD partnership arrives at a time when artificial intelligence is becoming an increasingly important part of banking technology strategies.
Financial institutions are moving beyond isolated AI experiments and exploring its application across software engineering, risk management, data operations, cybersecurity, and enterprise technology management.
However, successful transformation requires more than adopting new AI tools. Banks must also modernise legacy infrastructure, establish secure cloud environments, improve data quality, and ensure that automated systems operate within appropriate governance frameworks.
This is where partnerships between financial institutions and technology service providers are becoming increasingly important.
With its five-year engagement with EBRD, Hexaware will have an opportunity to demonstrate how AI-enabled engineering, intelligent operations, and integrated technology delivery can support the evolving needs of a major international financial institution.
Ultimately, the partnership represents more than a technology outsourcing agreement. It signals a broader movement towards intelligent, AI-powered banking infrastructure, where automation, collaboration, and digital modernisation will play an increasingly central role in shaping the future of financial services.
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