UST Secures Rs 500 Crore Deal to Boost Muthoot FinCorp's IT

American tech firm UST signed a Rs 500 crore deal with Muthoot FinCorp Ltd and its group companies to enhance IT infrastructure. The six-year partnership involves upgrading cybersecurity and cloud systems, impacting over 4,200 branches across 29 states, and marks a strategic expansion since their 2020 collaboration.

In a significant move, UST, an American technology firm, announced a Rs 500 crore agreement with Muthoot FinCorp Ltd and other Muthoot Pappachan Group entities. This partnership aims to bolster the financial giant's IT infrastructure, including cloud and data center operations.

The deal, marking an extension of the collaboration since 2020, will see UST managing the tech landscape for eight MPG entities. This encompasses over 4,200 branches across 29 states, potentially benefiting thousands of users.

UST's upgraded tech stack promises advanced cybersecurity, including Zero Trust architectures, AI-driven threat detection, and cloud-native capabilities, aiming to optimize workloads and ensure operational excellence in a dynamic financial services environment.

(With inputs from agencies.)