Press Releases 2009
iLumen™ and HCL Announce Strategic Relationship
HCL's CapitalStream platform for business and commercial lending powered by iLumen
iDEA® Data Platform and integrated with iLumen's Portfolio Connection®
and Customer Connection®
Atlanta, GA and Noida, India - November 3, 2009 -
In a joint announcement, HCL Technologies and iLumen, Inc. today announce a strategic
relationship to power CapitalStream, HCL’s business and commercial lending
system, using iLumen technology. The combined offering will extend CapitalStream’s
Straight Thru Processing solution to allow a bank’s customers to send financial
statements, information and documents through a secure electronic portal thereby
improving customer data and relationship management while also lowering costs and
enhancing portfolio management. The partnership will include both technical
product integrations and co-marketing arrangements.
iLumen provides enabling technology for commercial banks to connect, consolidate
and standardize both internal bank data and customer-submitted data into a common
data model and repository for credit, risk, and relationship management. HCL’s
CapitalStream solution is a complete software platform for business and commercial
lending that automates sales, origination, credit, due diligence, documentation,
and portfolio management. Integrating CapitalStream with iLumen’s technology
extends the automated life-cycle of commercial relationships all the way to the
ultimate source of credit information, the desktop of each individual borrower.
For more information about Ilumen and its products visit www.iLumen.com. For more information about HCL and the CapitalStream
platform, visit www.hcltech.com/capitalstream.
“One of the most costly and time consuming challenges facing business and
commercial lenders is the collection of financial statements, tax returns and other
business documents from a bank’s business customers. iLumen eliminates this
cost while improving information accessibility and accuracy by providing a platform
that completely automates the capture and standardization of this documentation
and data,” says Mike Pennell, vice president HCL CapitalStream Lending Group.
“By extending and integrating CapitalStream with iLumen’s platform,
we will provide a truly end-to-end commercial lending solution extending from the
bank to the borrower. Moreover, the banks that use the integrated platform will
reduce risk by improving the quality and timeliness of information about their customer’s
businesses so they can spot potential business problems earlier and address problem
loans before they go bad.”
“iLumen is a “powered by” technology provider that will enable
CapitalStream to deliver a total solution for commercial lending,” says Michael
Canzian, president/COO of iLumen. “Enabling our platform behind CapitalStream
and the broader HCL network is valuable for both parties. CapitalStream has the
opportunity to leverage our self-serve customer portal (Customer ConnectionTM)
and our centralized data platform (iDEATM) to become the true leader
in Straight Through Processing and end-to-end solutions. Conversely, iLumen further
expands its network of banks that depend on iLumen technology to connect disparate
systems and consolidate customer data into a desktop view for both credit risk managers
and relationship managers.”
For details, contact
Kirsten Paragona
Mobile +857 350-5393
Email: kparagona@hcl.in
Loren Eckart
iLumen
404-446-1600
Email: leckart@ilumen.com
Jill Newberry
BluePoint Venture Marketing for HCL Technologies
781-861-7800
Email: jill@bluepointmktg.com
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