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ISG Provider Lens™ Names HCL Technologies a Leader in Development of Next Gen Banking, Financial, and Insurance Applications
PUBLISHED DATE: Feb 18, 2019
Leading Global Research Firm Cites HCL Technologies for highly attractive product and service offerings
Noida, India - Feb 18, 2019: HCL Technologies (HCL), a leading global technology company, has been recognized as a leader in providing Next Gen Application Development and Maintenance (ADM) for the banking, financial service, and insurance (BFSI) sectors, according to 2018 ISG Providers Lens TM Quadrant Report. According to ISG, HCL has emerged as a leader among service providers, because of its rich toolset, strategic partnerships, and micro-verticalized focus in helping to create tailored BFSI solutions for its US clients.
This report assesses vendors based on their capability to augment traditional ADM services with emerging technologies and methodologies like agile, DevOps, automation, digital and modernization techniques to deliver application outsourcing projects. It also assesses provider capabilities in incorporating new approaches to develop and deliver applications that focus on business outcomes.
Rahul Singh, President and Global Head of Financial Services at HCL Technologies said, “We are pleased to be chosen as the leader in Next Gen Application Development and Maintenance (ADM) for the BFSI sectors. We are continually striving to enhance HCL’s as-a-service offerings, grow partnerships with next-gen (mode 2) technology firms and expand our services portfolio in key areas such as wealth, risk and compliance, payments, Digital and regulatory technology.”
“HCL can be a right partner of choice for financial enterprises looking for end-to-end ADM services with a focus on modernization, digitalization and cloudification,” said Ashish Chaturvedi, Principal analyst, ISG. “HCL has developed a rich toolset that propagates a specialized approach to ADM services. For example, FENIX is an operating model specifically designed for the BFSI industry with cloud and digital transformation as its core goals.”
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 DRYiCE 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