EBRD Taps Hexaware for Five-Year Technology Deal
The European Bank for Reconstruction and Development has selected Hexaware Technologies to support its technology operations under a five-year framework.
Updated on Nov. 9, 2026 in Financial Services
The European Bank for Reconstruction and Development, a multilateral development bank operating across 40 economies, selected Hexaware Technologies under a five-year framework agreement. The financial terms of the deal were not disclosed.
Why it matters
The agreement covers the bank's Run-Change-Transform technology portfolio and its Northstar technology blueprint, signaling a push to integrate AI into banking operations and automate processes. It also builds on an existing relationship between the two organisations.
The five-year framework spans a multilateral development bank operating across 40 economies. The financial value of the agreement was not disclosed, leaving its scale relative to comparable contracts unknown.
The players
European Bank for Reconstruction and Development (EBRD)
A multilateral development bank that finances projects across 40 economies, primarily in Europe, Central Asia, and the Southern and Eastern Mediterranean.
Hexaware Technologies
An IT services and consulting company that provides software engineering, cloud, data, and AI-driven operations services to global enterprises.
The details
Hexaware will work as part of the EBRD's technology organisation with onshore and offshore centres, covering software engineering, IT operations, cybersecurity, cloud, data analytics, SAP application support, and treasury risk operations. The firm will deploy its RapidX, Amaze, and Tensai Reasoning Ops platforms for agentic software development, data engineering, and AIOps.
Timeline
Five-year framework agreement term (start date not specified)
Market Landscape
The deal reflects a broader trend of multilateral and public financial institutions outsourcing technology modernization and AI-driven operations to specialized IT services firms. It extends an existing relationship and positions Hexaware to pursue similar integrated delivery models with other international financial institutions.
For customers and stakeholders of international development lenders, the deal signals faster AI-driven operations and automated processes over time. The direct day-to-day effects on clients or the public are not described in the source material.
The takeaway
Multilateral institutions are increasingly bringing AI and automation into core banking operations through long-term partnerships. Watch how integrated delivery models like this one are adopted by other development lenders.
Further reading
For more on how institutions like this shape global lending, see Financial Services.
