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 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.”
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BluePoint Venture Marketing for HCL Technologies