HCLTech named as a Leader in Avasant’s 2023 RadarView™ for Banking Process Transformation | HCLTech

HCLTech named as a Leader in Avasant’s 2023 RadarView™ for Banking Process Transformation

Published Date
5 min. read
Published Date
5 min. read

NOIDA, India, Sept 26, 2023HCLTech, a leading global technology company, has been rated as a Leader in Avasant’s 2023 RadarView™ for Banking Process Transformation. HCLTech has achieved the highest combined score in practice maturity, domain ecosystem, and investments and innovation, three critical criteria in the assessment of 23 top-tier banking process transformation providers.

HCLTech’s holistic digital process operations for banks, with its focus on retail, corporate banking, lending and financial crime, offer clients end-to-end digital operations, leveraging its investments in automation, domain CoEs and ecosystem partnerships.

“Banks worldwide are embracing a digital-first approach to transform their business processes, leveraging the power of new-age technologies including AI (artificial intelligence), ML (machine learning), RPA (robotic process automation) and process mining for greater agility and flexibility,” said Raghu Kidambi, Corporate Vice President, Digital Process Operations, HCLTech. “Our leadership position in this report is a testimony to our innovative engagement models, holistic banking services offerings and market-leading capabilities that help drive our client’s growth.”

“Rising competition from fintechs and significant regulatory pressure require banks to transform processes in order to stay in tune with emerging service delivery models. HCLTech differentiates itself from its competitors through its deep domain expertise and continued investments in building extensive partnerships,” said Shwetank Saini, Associate Research Director, Avasant.

“HCLTech’s focus on expanding its capabilities in KYC (know your customer) and AML (anti money laundering) and mortgage origination, delivery expansion and a robust partner ecosystem has placed the company as a leader in Avasant’s Banking Process Transformation 2023 RadarView. HCLTech’s proprietary workflow automation platform, Toscana, enables process reengineering and orchestration to help banks improve core banking operations and drive efficiencies. This is supported by its Novus suite of business transformation offerings with end-to-end coverage of banking solutions to optimize current service delivery models and improve digital banking services,” added Shwetank Saini.

To download the report, click here. 

About HCLTech

HCLTech is a global technology company, home to more than 223,000 people across 60 countries, delivering industry-leading capabilities centered around digital, engineering, cloud and AI, powered by a broad portfolio of technology services and products. We work with clients across all major verticals, providing industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services. Consolidated revenues as of 12 months ending June 2023 totaled $12.8 billion. To learn how we can supercharge progress for you, visit hcltech.com.

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