HCL To Provide Digital Solutions To Deutsche Bank

17 November, New Delhi

Leading global IT service provider HCL Tech said today it has signed an

Application Development and Maintenance contract with Deutsche Bank.

Under the terms of agreement, HCL will provide digital solutions, systems integration, product implementation and design, build and test new applications in addition to the ongoing application maintenance and support services, the company told stock exchanges.HCL will manage and enhance some of the existing application suites, including corporate banking and securities, global transaction banking, asset and wealth management, and risk, finance and back-office operations across Deutsche Bank group.

The programme is part of a broader strategic initiative by Deutsche Bank. HCL is an innovation partner for the companys digital strategy which aims to enhance customer experience by bringing innovation to its products, services and operations. In todays challenging business environment, IT applications – especially governance, risk and compliance applications – need to be highly reliable, scalable, and continuously optimized in order to deliver world-class experience to our customers, said Kim Hammonds, Group CIO, Deutsche Bank.

HCL is a long-standing partner, and we believe HCLs applications development and maintenance expertise and deep industry knowledge will create significant business impact for us. We are pleased to have been selected by Deutsche Bank and we look forward to helping them

create a high performance banking application portfolio to support their key programmes over the coming years, said Parag Samarth, Corporate Vice President Financial Services, HCL Technologies.HCLs stock price rose 11.75 points, or 1.4 per cent, to 850.3o in todays trading at BSE.