Noida, India, March 6th 2019- HCL Technologies (HCL), a leading global technology company, strengthened its Leader position as the Star Performer in the recently published Global Capital Markets Application Services PEAK Matrix™ 2018 report by Everest Group. As part of the analysis, Everest Group studied the vision and capability of 27 IT service providers for capital markets application services and positioned HCL a Leader for the fourth consecutive year.
The capital markets Application Services (AS) grew at 4-5%, driven by an increase in spending on modernization and platform-led transformation. As many as 7 of the top 27 IT service providers witnessed over 10% growth in their capital markets AS business. HCL has witnessed significant market traction in their Capital Markets practice by leveraging their robust talent model, global delivery presence, extensive consulting capabilities, and good depth/breadth of solutions/services portfolio that has helped them become strategic business partners to capital markets clients. Their consulting-led selling approach has made them one of the preferred vendors for change management.
HCL was selected as a Star Performer and has been assessed high for top quartile performance across both ‘vision and capabilities’ as well as ‘market impact’. Peer growth rates and ability to win multiple new large deals were cited as HCL’s distinguishing factors of market success. Continued investments into acquisitions, reg-techs, partnerships to strengthen digital capabilities, investment in talent, innovation labs, and solution accelerators were cited as distinguishing features of capability advancements.
“As the market is witnessing adoption of digital themes with data, cloud, blockchain and analytics being the key areas of investment, our goal focusses on enabling customers launch new products, create differentiated user experiences, and reduce risks & cost prevailing due to legacy technology” said Rahul Singh, President and Global Head of Financial Services, HCL Technologies. “This recognition highlights our vision to simplify, digitize, and disrupt to build futuristic solutions for our customers.”
“The capital markets industry is leveraging a platform-based economy to gain efficiency, collaborate with the ecosystem, and create superior experience. Enterprises look to reduce the costs of their ‘run-the-business’ initiatives and funnel savings to their change agendas.” said Jimit Arora, Partner, Everest Group. “HCL has a well-balanced services portfolio across the asset management and buy-side value chain. Additionally, its strong technical and domain expertise, new large IT modernization engagement wins, and recognition by clients for flexibility in engagements has helped HCL position as a Leader on the Capital Markets Application Services PEAK Matrix.”
About HCL Technologies
HCL Technologies (HCL) is a leading global technology company that helps global enterprises re–imagine and transform their businesses through Digital technology transformation. HCL operates out of 44 countries and has consolidated revenues of US$ 8.4 billion, for 12 Months ended 31st December 2018. HCL focuses on providing an integrated portfolio of services underlined by its Mode 1–2–3 growth strategy. Mode 1 encompasses the core services in the areas of Applications, Infrastructure, BPO and Engineering & R&D services, leveraging DRYiCETM Autonomics to transform clients' business and IT landscape, making them 'lean' and 'agile'. Mode 2 focuses on experience–centric and outcome–oriented integrated offerings of Digital & Analytics, IoT WoRKS™, Cloud Native Services and Cybersecurity & GRC services to drive business outcomes and enable enterprise digitalization. Mode 3 strategy is ecosystem–driven, creating innovative IP–partnerships to build products and platforms business. HCL leverages its global network of integrated co-innovation labs and global delivery capabilities to provide holistic multi–service delivery in key industry verticals including Financial Services, Manufacturing, Telecommunications, Media, Publishing, Entertainment, Retail & CPG, Life Sciences & Healthcare, Oil & Gas, Energy & Utilities, Travel, Transportation & Logistics and Government. With 132,328 professionals from diverse nationalities, HCL focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. For more information, please visit www.hcltech.com
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to the statements containing the words 'planned', 'expects', 'believes’,’ strategy', 'opportunity', 'anticipates', 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, business process outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost-effective and timely manner, time and cost overruns on fixed-price, fixed-timeframe contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward-looking statements made herein will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward-looking statements made herein are based on information presently available to the Management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.
For further details please contact:
Anne Coyle, US
Elka Ghudial, Europe
Devneeta Pahuja, India and APAC