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    HCLTECH   INE860A01027

HCL TECHNOLOGIES LIMITED

(HCLTECH)
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HCL Technologies : and Lendico, an ING Germany Company, Join Forces in Building Solutions for SMEs

09/21/2021 | 08:11am EDT

HCL will establish fintech lab in Germany to drive innovation and create transformational technology architectures

HCL Technologies (HCL), a leading global technology company, has entered a multi-year application services transformation partnership with Lendico, a brand of ING Germany, to deliver application and engineering services to help it create a state-of-the-art digital platform that makes business banking faster and more convenient for small- and medium-sized enterprises (SMEs).

HCL will establish a tech lab in Berlin that will combine fintech mindset, agile culture and customer focus with engineering expertise, global delivery capabilities, and deep domain knowledge of financial services and risk management. Lendico will be the first to leverage the lab to bring innovative approaches for processes, such as credit decisioning, loans collections and KYC. The lab will also enable transformational technology architectures, such as API gateways and microservices. Lendico will be able to scale by rapidly onboarding new partners and bringing new services to market faster, thus enhancing customer experience.

“We want to create complete business banking solutions that enhance our position as a strong partner for SMEs on the basis of the agile mentality that enables us to innovate and scale rapidly,” said Sven Foos, Managing Director, Lendico and Head of Business Banking, ING Germany. “HCL was the ideal partner to support our journey due to its ingrained culture of digital innovation, next-generation engineering capabilities and transformational frameworks.”

“Lendico is a frontrunner in frictionless digital SME lending, and we are excited to be a part of this transformational journey,” said Sudip Lahiri, Senior Vice President and Head of Financial Services, Europe, HCL Technologies. “Our partnership with Lendico will become a template for fintechs looking to scale digitally by embracing a platform-based ecosystem model. This approach will strengthen Lendico’s ability to reach new customers and markets quickly while remaining compliant with strict industry regulation. Our fintech lab will become a hub for financial services innovation in Europe and will further strengthen HCL’s delivery capabilities for banking clients in Germany.”


© Business Wire 2021
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Financials
Sales 2022 846 B 11 305 M 11 305 M
Net income 2022 134 B 1 793 M 1 793 M
Net cash 2022 188 B 2 520 M 2 520 M
P/E ratio 2022 24,9x
Yield 2022 2,54%
Capitalization 3 346 B 44 702 M 44 728 M
EV / Sales 2022 3,73x
EV / Sales 2023 3,27x
Nbr of Employees 187 634
Free-Float 39,7%
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Number of Analysts 39
Last Close Price 1 232,90 INR
Average target price 1 369,46 INR
Spread / Average Target 11,1%
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Managers and Directors
C. Vijayakumar President, Chief Executive Officer & MD
Prateek Solek Aggarwal Chief Financial Officer
Roshni Nadar Malhotra Chairman
Hanumantha Rao Gade President-Engineering, R&D Services
Kalyan B. Kumar Chief Technology Officer & Corporate VP
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