HCL Technologies (HCL) announced a new multi-year application deal with Euroclear Group to accelerate its agile transformation journey with technologies and working practices to improve its digital capabilities. The financial details of the deal have not been made public.
HCL will work with Euroclear, the world’s largest provider of domestic and cross-border settlement and related services for bond, equity and fund transactions, to explore new business models and market opportunities to create value through innovation and data monetisation, it said in a release.
HCL will leverage its Fenix 2-0 execution framework to modernise Euroclear’s digital channel landscape. This will help Euroclear accelerate innovation in its digital channels by harnessing automation, unified end-customer experience and DevOps delivery models.
HCL said it will capitalise on its deep-domain knowledge and vast experience of driving transformation with other financial services clients. It will set up a co-innovation lab in Brussels, where it will work with Euroclear on sustainable innovation to answer market problems and new digital initiatives that drive business value. The lab will create an entrepreneurial environment to explore emerging technologies and trends and apply them to create new products and services.
“We’re delighted Euroclear selected HCL to become its strategic partner in such a visionary transformation,” said Sudip Lahiri, Senior Vice President and Head of Financial Services, Europe, HCL Technologies.
“This deal is a great endorsement of HCL’s proven experience delivering value for our clients by co-creating new services and harnessing data to drive innovation and diversification. Our partnership-driven approach will foster a culture of continuous improvement for Euroclear’s business,” said Lahiri. HCL’s Mode 1-2-3 strategy aims to enable businesses to transform into next-gen enterprises.
