Vietnamese information technology (IT) corporation FPT has signed a memorandum of understanding with Europe’s tech firm Future Processing to accelerate digital transformation in the banking, financial services, and insurance (BFSI) sector worldwide over the next three years.

FPT said in a statement on Wednesday that by combining Future Processing’s deep insurance expertise with FPT’s global delivery capabilities, the alliance aims to provide enterprises with smart, efficient, and scalable solutions, while accelerating market expansion in North America and Europe.

FPT and Future Processing will co-develop and deliver end-to-end digital transformation solutions through FPT’s best-shore delivery model to optimize cost, efficiency, and service quality.

The two companies will also jointly create intellectual property assets and digital accelerators to expedite go-to-market strategies in strategic markets.

In addition, the partnership will broaden cooperation in application infrastructure services and key client engagements, supported by shared standards and coordination frameworks to ensure effective and seamless execution.

“This partnership is an integral part of our strategy to expand the BFSI business on a global scale, with a strong focus on AI and Data,

“Leveraging both sides’ deep industry expertise, digital capabilities that can accelerate intelligent transformation, we aim to deliver AI-powered business outcomes that not only enhance operational efficiency but also create long-term value for our customers worldwide,” said Phuong Dang, FPT Software SEVP and FPT Software Americas Chief Executive Officer, FPT Corporation.

Meanwhile, Daria Polończyk, Future Processing Head of Delivery, said by working closely together, they combine deep insurance expertise with innovative solutions to help their clients grow.

“Leveraging FPT’s global delivery capabilities, we are confident in delivering smart, fast, and cost-effective digital solutions,” he added.

FPT said the firm brings over 15 years of experience collaborating with global leaders in the BFSI sector.

With a dedicated team of 3,000 experts in this domain, the company delivers innovative solutions to more than 200 clients worldwide.

Its workforce in this sector is equipped with deep domain expertise, supported by over 500 insurance-related certifications, ensuring the highest standards of quality and innovation across the industry.

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