Cigniti bags $10Mn+ ACV Deal from a US-based Financial Institution

IT firm Cigniti Technologies today said that it has bagged a deal with an annual contract value (ACV) of over USD 10 million (about Rs 76 crore) from one of the largest and oldest Financial Services and Investment firms in the US to assure and accelerate its digital transformation journey.

The deal has the potential to immensely grow in the coming years. Cigniti Technologies, a global leader in providing AI-driven, IP-led, strategic digital assurance, software quality engineering, automation, testing, and consulting services, helps global companies to go Digital-First.

• This Strategic Partnership will support Legacy Transformation using Cigniti's Advisory & Transformation Services (ATS) and achieve committed ROI and quicker time-to-market.

• The engagement entrusted by the financial services major covers a gamut of services to be provided spanning Infrastructure Automation, Chaos Engineering, Security, and Performance assurance services leveraging Cigniti's Digital Assurance and IP led Quality Engineering services with massive automation capabilities.

Without disclosing the name of the client, Cigniti said, "The client is a Fortune 500 company with operations in 20+ U.S. states as well as offices in three continents."

Speaking on the occasion, Srikanth Chakkilam, CEO, Cigniti Technologies, said "We are excited to be a strategic digital transformation assurance partner with this leading financial services firm. The deal is an outcome of deep-rooted expertise of a domain-led, automation-led, and solution-led approach, encompassing functional, process, business, and digital assurance services for large enterprise customers. This is also a testament to our ability to win large deals. It further improves our BFSI revenues which are already contributing 19.23% of total revenues."

"Our continuous investments into our domain centers of excellence, particularly with the 300+ experts in the Financial services COE, and in our IP, BlueSwan™ to enhance its capabilities, to create new IP-based solutions, such as AI-led test data management, no-code & low-code automation, test environment management, and security engineering, are increasingly becoming a strong differentiator for winning large-sized deals with companies across the globe," Srikanth added.

"We promise frictionless end-user experiences with our Digital-Assurance services stack. We enable our customers to tread confidently on their digital transformation journeys, help them reimagine their businesses, achieve market leadership, and win the digital landscape", he added.

Cigniti said, it is one of the largest deals Cigniti has won, which has a high potential to grow in the coming years.