Microsoft cloud for Financial Services selects HCL Technologies as a Launch Partner

With this new collaborative partnership, HCL’s own banking platform, PowerBanking, will be hosted on the Microsoft Cloud for Financial Services. The new Financial Services Cloud offers multilayered security and comprehensive compliance coverage.

Rahul Singh, President, HCL Financial Services, said, "We partnered with Microsoft in this key initiative because they will enable our HCL Financial Services Ideapreneurs to incorporate their decades of domain expertise into a futuristic hyper-scale foundation. What our clients gain is a synergistic co-innovation effect: Microsoft surfacing new capabilities and HCL building differentiating solutions with our clients and partners."

Kalyan Kumar, Chief Technology Officer and Head of Ecosystems for HCL Technologies, said, "Similar to our Microsoft Cloud for Healthcare initiative, we used our long-standing relationship with Microsoft and our global Financial Services Industry capability to rally support and engage across HCL service lines. In HCL, Microsoft has a comprehensive co-innovation technology partner that can help realize the product’s true and vision of the Microsoft Cloud for Financial Services.

The Microsoft offering addresses key cloud concerns like better security via multi-layered security, the second is tackling regulations via comprehensive compliance coverage, and the third is to offer scalability for the fast expansion.

HCL PowerBanking Product will allow the retail banks to access better customer engagement and will also offer different customizations based on the preferences of the customers. Apart from that, HCL owns Microsoft Wing; the HCL Microsoft Ecosystem Unit will work with customers in private to utilize the components of the system in future scenarios.

The partnerships will also offer software-as-a-service and infrastructure as a service hosting solutions to its customers, notest the announcement.