- Non-financial services clients will benefit from Temenos’ continued R&D investment in Temenos Quantum, the leading multiexperience development platform (MXDP) and HCL’s world-class, global professional services and cross-industry expertise
- HCL has been granted a license to develop, market and support Temenos MXDP for non-financial services industry sectors. The agreement is exclusive for seven years
NOIDA, India – June 2, 2020 – Temenos (SIX: TEMN), the banking software company, and HCL Technologies (HCL), a leading global technology company, today announced the signing of an exclusive strategic agreement for non-financial services enterprises. As part of this agreement, HCL has been granted a license to develop, market and support Temenos multiexperience development platform (MXDP) for non-financial services enterprises. The agreement is exclusive for seven years. Temenos will continue its R&D investment in its industry-leading Temenos MXDP, and will support and service both Temenos financial services clients as well as existing non-financial services clients that are currently contracted with Temenos. This agreement with HCL provides our existing non-financial services clients with world-class technology and the highest-levels of services and support.
Temenos Quantum continues to be the technology foundation for Temenos Infinity, the most advanced omnichannel digital banking product. This agreement does not include Temenos Infinity.
This agreement provides Temenos with further enhanced visibility on profitability and cash flow and underlines the resilience of Temenos’ business model. This strategic agreement has a positive impact on total software licensing and non-IFRS EBIT and is on average 1-2 % accretive to non-IFRS EPS p.a. for the duration of the exclusivity.
Max Chuard, Chief Executive Officer, Temenos, said: “We are excited to announce this exclusive agreement with HCL, which ensures non-financial services clients have the best possible service and support, while allowing Temenos to focus on its core business of financial services. Under the agreement, non-financial services clients will continue to benefit from our significant R&D investment and innovation roadmap in the Quantum platform while HCL will bring world-class, cross-industry R&D and professional services.”
Darren Oberst, CVP and Head of HCL Software, added: “We have said from the beginning that HCL Software will grow its technology in a strategic way and will invest in innovation. We are pleased to forge this agreement with Temenos. Temenos’ multi-experience development platform is the market leader and very complimentary to our portfolio. We’re excited about what the future holds, and the value this will bring to non-financial services enterprises.”
HCL Software develops, markets, sells and supports over 20 product families in the areas of DevSecOps, Automation, Digital Solutions, Data Management, Marketing and Commerce and Mainframes. With offices and labs around the world, HCL Software serves thousands of customers driving ultimate customer success with IT investments through relentless innovation of its products.
As the market leader, Temenos Quantum’s multi-experience development platform helps corporations capture market share and improve client retention by delivering seamless, hyperpersonalized, AI-driven experiences faster across web, native apps, wearables, conversational and immersive touchpoints.
About HCL Technologies
HCL Technologies (HCL) empowers global enterprises with technology for the next decade today. HCL’s Mode 1-2-3 strategy, through 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 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. Under P&P, HCL 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 under 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. As of 12 months ended March 31, 2020, HCL has a consolidated revenue of US$ 9.94 billion and its 150,423 ideapreneurs operate out of 46 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:
Anne Coyle, US
Elka Ghudial, Europe
Devneeta Pahuja, India and APAC