HCL bags multi-year application deal from Belgium-based Euroclear

HCL Technologies Ltd (HCL) said on Tuesday it has won a new multi-year application deal from Belgium-based Euroclear Group to accelerate its agile transformation journey with technologies and working practices to improve its digital capabilities.

HCL will work with Euroclear, one of the leading financial services companies, to explore new business models and market opportunities to create value through innovation and data monetization.

Leveraging its Fenix 2.0 execution framework, HCL said it 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,” HCL said.

As part of the engagement, HCL will also establish a co-innovation lab in Brussels, where it will work with Euroclear on sustainable innovation to address market problems and new digital initiatives. The lab aims to build an entrepreneurial environment to explore emerging technologies and trends, and apply them to create new products and services.

“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 Sudip Lahiri, senior vice president and head of Financial Services, Europe, HCL Technologies.