HCL Technologies Limited has informed the Exchange regarding 'Release HCLTech and Thought Machine partner to accelerate AI and cloud-led transformation of banks'.
HCLTECH · price
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HCLTech announced a global partnership with Thought Machine, a cloud-native banking technology firm, to help banks modernize their core systems using AI and cloud. The collaboration centers on Thought Machine's Vault platform, which handles core banking and payments. HCLTech will deploy Vault-certified delivery teams and set up a dedicated global Center of Excellence for Vault Core and Vault Payments. The joint offering will support full-stack transformation, including regulatory compliance, complex integrations, and DevSecOps. HCLTech, with over 223,000 employees across 60 countries and $14 billion in trailing twelve-month revenue (ending June 2025), is targeting both established banks and new digital challengers through this partnership.
This is a strategic partnership announcement with no immediate financial impact, but it strengthens HCLTech's credentials in the fast-growing financial services digital transformation market, a key revenue vertical for the company.