Noida, India, July 26, 2021 — HCL Technologies (HCL), a leading global technology company, today announced it was selected as a launch partner for Microsoft’s recently announced industry cloud – Microsoft Cloud for Financial Services.
Microsoft Cloud for Financial Services brings together capabilities with multilayered security and comprehensive compliance coverage to deliver differentiated customer experiences, improve employee collaboration and productivity, manage risk and modernize core systems.
“We partnered with Microsoft in this key initiative because they will enable our HCL Financial Services Ideapreneurs to incorporate their decades of domain expertise into a futuristic hyperscale foundation,” said Rahul Singh, President, HCL Financial Services. “What our clients gain is a synergistic co-innovation effect: Microsoft surfacing new capabilities and HCL building differentiating solutions with our clients and partners.”
One key solution is HCL’s PowerBanking product, built to leverage all available capabilities of the Microsoft Cloud for Financial Services. It enables comprehensive scenarios for retail bank customer engagement. Building upon offerings such as this, HCL Microsoft Ecosystem Unit (HCL MEU) works with a set of clients in private preview to use the current and future reusable components designed for retail banking in new customer scenarios.
Our strategic partners like HCL Technologies play a critical role in enabling the Microsoft Cloud for Financial Services and elevating the digital transformation journey for our customers,” said Bill Borden, Corporate Vice President of Worldwide Financial Services, Microsoft. “Banking customers working with HCL’s deep expertise in retail banking can take advantage of a tailored cloud solution built on Microsoft’s trusted platform with robust security and compliance to speed time to value while unlocking innovation for sustainable growth.”
“Similar to our Microsoft Cloud for Healthcare initiative, we used our long-standing relationship with Microsoft and our global Financial Services Industry capability to rally support and engage across HCL service lines,” said Kalyan Kumar, Chief Technology Officer and Head of Ecosystems for HCL Technologies. “In HCL, Microsoft has a comprehensive co-innovation technology partner that can help realize the product’s true and vision of the Microsoft Cloud for Financial Services.”
About HCL Technologies
HCL Technologies (HCL) empowers global enterprises with technology for the next decade, today. HCL’s Mode 1- 2-3 strategy, based on its deep-domain industry expertise, customer-centricity and entrepreneurial culture of Ideapreneurship™, enables businesses to transform into next-gen enterprises. HCL offers its services and products through three business units: IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS enables global enterprises to transform their businesses through offerings in the areas of applications, infrastructure, digital process operations and next generational digital transformation solutions. ERS offers engineering services and solutions in all aspects of product development and platform engineering. P&P provides modernized software products to global clients for their technology and industry specific requirements. Through its cutting-edge co-innovation labs, global delivery capabilities and broad global network, HCL delivers holistic services in various industry verticals, categorized as Financial Services, Manufacturing, Technology & Services, Telecom & Media, Retail & CPG, Life Sciences & Healthcare and Public Services. As a leading global technology company, HCL takes pride in its diversity, social responsibility, sustainability, and education initiatives. For the 12 months ended June 30, 2021 HCL had consolidated revenue of US$ 10.54 B. Its 176,499 Ideapreneurs operate out of 50 countries. For more information, 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:
Meenakshi Benjwal, US
Elka Ghudial, Europe, EMEA
Devneeta Pahuja, India and APAC