Persistent Systems partners with UK's Monument Bank to create New Digital Banking Infra; stock zooms ~3%

3 Aug 2022 , 01:43 PM

Persistent Systems Limited partners with Monument Bank, UK to support the bank’s ongoing operations.

Monument’s target clients are typically time-constrained and frequently find themselves underserved and undervalued by other banking providers. Monument’s mission is to assist its clients in prospering and optimizing their time by providing smart, efficient, and adaptable solutions.

Persistent was involved in the design and planning of Monument’s technology systems and later assisted in the construction of the Bank’s tailor-made systems architecture through the use of a flexible building block approach.

This approach allows for the addition and swapping of new components over time to take benefit from the most recent advancements, allowing Monument to select and integrate multiple SaaS-based core component technologies.

Persistent has contributed to the Bank’s strategic goals by assisting in the development of its architecture, which combines services with an adaptable, cloud-based platform, including components for core banking, CRM, payment services, AML/KYC, general ledger, and regulatory reporting.

Monument caters to the ‘mass affluent’ clientele, which includes business professionals, entrepreneurs, and real estate investors.

At around 1.46 PM, Persistent Systems was trading at Rs3,718.70 up by Rs95.15 or 2.63% from its previous closing of Rs3,623.55 on the BSE. The scrip touched intraday high and low of Rs3,733 and Rs3,585.75 respectively.