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MPG Partners UST for ₹500 Cr Digital Overhaul
28 Jan
Summary
- UST to modernize Muthoot's IT infrastructure for six years.
- The deal is valued at over ₹500 crore and involves 8 MPG entities.
- Focus is on hybrid cloud, AI security, and automation for NBFC.
UST, a leading digital transformation company, has finalized a digital transformation deal valued at over ₹500 crore with Muthoot FinCorp Ltd. and its group companies under the Muthoot Pappachan Group (MPG). This strategic six-year partnership, extending through 2031, signifies a major commitment to modernizing MPG's technology landscape. The engagement will introduce an advanced technology stack for MPG's eight entities, spanning over 4,200 branches and thousands of users nationwide. UST will implement enhanced cybersecurity measures, including Zero Trust architectures and AI-driven threat detection, alongside hybrid and multi-cloud modernization to optimize critical systems. This collaboration is poised to bolster Muthoot FinCorp Ltd.'s extensive NBFC technology ecosystem, focusing on resilience, security, and scalable growth. The initiative aims to support digital lending, branch modernization, and data-driven decision-making, ensuring regulatory compliance and agile operations in the evolving financial services sector.
