HCL Technologies has signed a strategic partnership with Hancom Inc to share advanced software technology solutions and expand into the South Korean and Taiwanese markets. "HCL will use its next-generation digital transformation and service capabilities to bring two of Finastra's strategic products, Fusion Cash Management and Fusion Summit, to the financial services ecosystem in the region," HCL Tech said in a regulatory filing to the stock exchanges.
Fusion Cash Management provides digital corporate banking experience for financial institutions worldwide, whereas Fusion Summit offers rich core trading solutions for capital markets.
"This partnership is not only a testament to HCL's strong relationship with Finastra, but also to its growing
presence in South Korea and Taiwan," Sanjay Gupta, Corporate Vice President, HCL Technologies said.
HCL Tech will provide software development training at HANCOM's R&D center in India, sharing its development studio and providing HR support to meet demand and development capacity at the R&D center, the company added.
At 11:40 am, HCL Tech shares were trading at Rs 1258, higher by 1.5 per cent on the BSE as against the BSE's rise of 0.5 per cent.