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Prime Minster John Key Witnesses New Signing Between HCL & Finzsoft
PUBLISHED DATE: Jun 27, 2011
Partnership will focus on delivering new high value solutions to banking sector as it goes through transformational period
India & Wellington - June 27th, 2011 – At a signing ceremony witnessed by New Zealand Prime Minister Rt. Hon John Key in Delhi today, HCL Technologies Ltd. (HCL), a leading global IT services provider, announced an extension of the global partnership with New Zealand finance and banking specialist and one of Australasia’s leading proprietary Banking and Finance software solution companies Finzsoft Solutions Limited to deliver new high value technology solutions to the region’s banking and finance sector.
Consolidation, technology advances, and global commerce have intensified the competition in the financial services industry. As the demand for innovative products and services continues to increase, there is a significant transformational opportunity with large financial services firms, many of whom are in the process of upgrading their ageing legacy infrastructures as well as embracing new customer oriented solutions, such as mobility applications and cloud computing services.
“Both companies already have a strong banking customer base within the APAC region and the goal is to continue capitalising on this market share as well as expand our collective businesses in both developed and developing markets” said Rajiv Sodhi, Sr. Corporate Vice President and Chief Customer Officer, HCL Technologies.
“This extension of our global Partnership further recognizes Finzsoft's proprietary Sovereign product as a leading, competitive and transformational world-class tier one banking and finance solution. “said Andrew Holliday Director, Finzsoft Solutions Limited.
“The parties have agreed to extend their Partnership in recognition of market demand for the provision of an integrated world-class full lifecycle core and point vertical suite of banking and financial product solutions by an independent product vendor, supported by an independent world class consulting and technology service provider with global delivery capacity.” Andrew Holliday continued.
“The partnership combines the best elements from HCL and Finzsoft to offer a proactive, innovative and solution based transformational offering that is proven, secure, and scalable,” Mr Holliday continued.
“Finzsoft will lead these core and vertical solutions with HCL providing systems integration, business process outsourcing and transformational services,” Mr Holiday continued.
The New Zealand Prime Minister John Key, who witnessed the signing between HCL and Finzsoft, is currently heading a business and government delegation, in a sign of New Zealand’s increasing commitment to India.
“The offshore model of yesteryear has evolved into something far more collaborative. This pioneering agreement reflects the writing on the wall when it comes to conducting business in Asia from here on in,” said Mr. Sodhi. “Its success depends on organisations from the developed world learning to embrace and engage their developing world counterparts and vice versa.”
As part of this financial services partnership HCL will deliver the Banking Solution which includes full lifecycle, core and vertical banking and financial product solutions backed by world class systems integration and transformational services.
The Banking Solution is supported by the Professional Services suite from HCL which includes:
- Engineering and R&D Services
- Infrastructure Services
- BPO Services
- ADM Services
- Enterprise Application Service
Finzsoft is a world leader in the finance and banking market. Finzsoft’s flagship product Sovereign offers both core and vertical specific solutions behind leading building societies, banks, credit unions and finance companies throughout Australia, New Zealand and internationally.
Sovereign is a highly integrated solution that encompasses all the components required for finance and banking, asset backed finance, business origination, lending, leasing, collections, investments and wholesale. Sovereign is scalable and secure enough to meet the requirements of global banks and flexible enough to manage the most complex business requirements.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on ‘transformational outsourcing’, underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of ‘Employee First’ which empowers our 73,420 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 3.3 billion (Rs. 15,160 crores), as on 31 March 2011 (on LTM basis). For more information, please visit www.hcltech.com
HCL is a $5.9 billion leading global technology and IT enterprise comprising two companies listed in India - HCL Technologies and HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups. A pioneer of modern computing, HCL is a global transformational enterprise today. Its range of offerings includes product engineering, custom & package applications, BPO, IT infrastructure services, IT hardware, systems integration, and distribution of information and communications technology (ICT) products across a wide range of focused industry verticals. The HCL team consists of over 80,000 professionals of diverse nationalities, who operate from 31 countries including over 500 points of presence in India. HCL has partnerships with several leading global 1000 firms, including leading IT and technology firms. For more information, please visit www.hcl.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-time frame 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.