HCLTech expands partnership with German co-op bank for cloud-managed services

HCLTech has expanded its partnership with German-based Deutsche Apotheker- und Ärztebank eG (apoBank). The IT services giant has been associated with the largest cooperative primary bank in Germany since 2021 for application. With the expansion, HCLTech will be providing managed services model for apoBank to deliver ‘fast and secured’ banking services to its customers.

“At apoBank, we welcome the expansion of our partnership with HCLTech. In addition to world-class capabilities in IT infrastructure and cloud-managed services, HCLTech has extensive Avaloq expertise and deep understanding of apoBank. This makes HCLTech the ideal partner for apoBank. In this respect, it was a logical step to consolidate the IT services with HCLTech,” said Thomas Runge, COO and member of the executive board, apoBank.

To be sure, HCLTech is a strategic partner of fintech company Avaloq and has strong expertise with Avaloq’s core banking system. In 2022, HCLTech acquired Swiss company Confinale, a digital banking and wealth management consulting specialist and Avaloq implementation partner.

Notably, HCLTech grew 12% year-on-year in its BFSI vertical for FY24. The growth is attributed to execution of complex projects, largely in hybrid cloud, said Srinivasan Seshadri, Chief Growth Officer and Global Head, Financial Services, HCLTech, as reported by The New Indian Express. 

This week, HCLTech also launched its Enterprise AI Foundry, a new initiative designed to streamline and scale the adoption of enterprise AI across business value chains.