Everest Group Names HCL Amongst Leaders for Global Banking IT Outsourcing | HCLTech
Press Release

Everest Group Names HCL Amongst Leaders for Global Banking IT Outsourcing

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

Noida, India – 23rd August 2016 – HCL Technologies (HCL), a leading global IT services company, has been positioned as a “LEADER” in Everest Group PEAK Matrix™ for Global Banking IT Outsourcing Services. As per the report “IT Outsourcing in Global Banking – Service Provider Landscape with PEAK Matrix™ Assessment 2016”, HCL’s strong digital vision and high focus on innovation are some of the strengths cited by its clients.

The report analysed 28 IT service providers for banking applications outsourcing, characterizing leaders as those that have invested aggressively (in house/alliance/acquisition) in next–generation technologies such as mobility, analytics, cloud, automation, and cognitive computing, partnered with niche technology startups through a well–defined FinTech strategy, and expanded their nearshore presence.

According to the report, HCL has demonstrated credible growth by replacing large incumbents in recent deal wins and has been able to successfully position itself as an innovative IT service provider with focus on risk & regulatory compliance, legacy modernizations, and digital. IP–led approach, growing partner ecosystem, success in large scale vendor consolidations deals, and proactive investments in clients through co–innovation labs and PoCs have helped it build strong credential and position itself as a leader in this year’s Banking AO PEAK Matrix.

“Everest Group has recognized HCL as a leader for the second year in a row, testifying HCL’s leadership in the global banking IT and applications outsourcing space. The recognition highlights the maturity of HCL’s banking–specific investments & solutions, co–innovation labs, partner ecosystem and flexible & innovative delivery models. Clients have specifically praised HCL’s strong and clear digital vision through the BEYONDigital business unit and high focus on innovation” said Rahul Singh, President & Global Head – Financial Services, HCL Technologies.

HCL’s financial services practice offers transformational services for the 21st Century Enterprise, based on a value–centric approach, thought leadership, co–innovation focus, and deep micro–vertical domain expertise across retail and corporate banking, diversified financial services and insurance.

Click here to read the complete report.

About HCL Technologies

HCL Technologies is a leading global IT services company working with clients to impact and redefine the core of their businesses. Since its emergence on the global landscape after its IPO in 1999 and listing in 2000, HCL Technologies, along with its subsidiaries, today operates out of 32 countries and has consolidated revenues of US$ 6.4 billion, for 12 Months ended 30th June, 2016. For the 21st Century Enterprise, HCL focuses on business model transformation, underlined by innovation and value creation, offering an integrated portfolio of services including BEYONDigital, IoT WoRKS, Engineering Services Outsourcing and Next–Generation ITO that focuses on integrated infrastructure services, applications services and business services. HCL leverages DryICETM, its third generation autonomics and orchestration platform, global network of integrated 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 107,968 professionals from diverse nationalities, HCL Technologies focuses on creating real value for customers by taking 'Relationships Beyond the Contract'. For more information, please visit www.hcltech.com.

Forward–looking Statements

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 details contact

Sumit Aggarwal

HCL Technologies Ltd


Purbasha Panda

HCL Technologies Ltd


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Ashutosh Sharma


Meenakshi Benjwal


Elka Ghudial


James Galvin


Siddhartha Bhatnagar

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