HCL Tech bags multi-year deal from Euroclear Group – Mint

Global technology firm HCL Technologies (HCL) on Tuesday 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.

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 monetization. Leveraging its Fenix 2.0execution framework, HCL will modernize 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, the company said in a statement.

Capitalizing on its deep-domain knowledge and vast experience of driving transformation with other financial services clients, HCL will establish 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, it added.

“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, he added.”

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