Thiruvananthapuram, Jan 27 (.) UST, a global AI and digital transformation solutions company, has secured a Rs 500-crore-plus digital transformation contract from Muthoot FinCorp Ltd and other group companies of the Muthoot Pappachan Group (MPG), marking a major expansion of their long-term technology partnership.
The six-year agreement, extending up to 2031, will see UST spearheading large-scale technology modernisation across eight MPG entities, covering 22 service towers and more than 4,200 branches spread across 29 states.
The deal reinforces Muthoot FinCorp’s continued confidence in UST as its strategic technology partner for managing mission-critical financial services systems.
Under the multi-year engagement, UST will deploy an enhanced technology stack featuring advanced cybersecurity solutions, including Zero Trust architecture, AI-driven threat detection, automated incident response, and next-generation endpoint and perimeter security.
The partnership also includes hybrid and multi-cloud modernisation to optimise workloads, improve disaster recovery, boost application performance, and enable cloud-native capabilities across core business systems.
Muthoot FinCorp operates one of the country’s largest NBFC technology ecosystems, with platforms supporting thousands of users and integrating over 100 technologies, with a strong emphasis on service uptime, operational resilience, regulatory compliance, and scalable growth.
UST President Alexander Varghese said the renewed engagement reflects a shared commitment to resilience, security, and long-term digital transformation, enabling scale, regulatory confidence, and innovation across digital lending and enterprise operations.
Dileep Sivan Pillai, Vice President and Head of India Business at UST, noted that the partnership goes beyond infrastructure management to deliver operational excellence through cloud, cybersecurity, and automation-led operations.
Muthoot Pappachan Group Chairman and Managing Director Thomas John Muthoot said UST has been a trusted partner for several years and that the renewed deal aligns with the Group’s long-term growth and digital infrastructure goals.
Muthoot FinCorp CEO Shaji Varghese said the partnership would help modernise IT infrastructure, strengthen cybersecurity, and support seamless customer services while meeting evolving regulatory requirements.
The agreement was formally signed in Thiruvananthapuram in the presence of senior leadership from both organisations. UST has been supporting the Muthoot Pappachan Group’s digital transformation journey since 2020 across infrastructure, cloud, and security domains.
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