HCL Technologies, a global tech firm, has agreed to a multi-year application services transformation partnership with Lendico, which is a brand of ING Germany, in order to deliver application and engineering services to help it create a digital platform that makes business banking faster and more convenient for SMEs.
HCL will be setting up a technology lab in Berlin that will focus on combining the Fintech mindset, “agile culture” and customer focus with engineering know-how, international delivery capabilities, and deep domain expertise of financial services and risk management.
Lendico will reportedly be the first to leverage the lab to “bring innovative approaches for processes, such as credit decisioning, loans collections and KYC.” According to a release, the lab will “enable transformational technology architectures, such as API gateways and microservices.” The announcement also mentioned that Lendico will be able to “scale by rapidly onboarding new partners and bringing new services to market faster, thus enhancing customer experience.”
Sven Foos, MD at Lendico and Head of Business Banking, ING Germany, stated:
“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. HCL was the ideal partner to support our journey due to its ingrained culture of digital innovation, next-generation engineering capabilities and transformational frameworks.”
Sudip Lahiri, SVP and Head of Financial Services, Europe, HCL Technologies, remarked:
“Lendico is a frontrunner in frictionless digital SME lending, and we are excited to be a part of this transformational journey. 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.”
As mentioned in the release, HCL Technologies aims to empower international enterprises with technology “for the next decade, today.” HCL’s Mode 1-2-3 strategy, “based on its deep-domain industry expertise, client-centricity and entrepreneurial culture of Ideapreneurship™, enables businesses to transform into next-gen enterprises.”
HCL provides its products via three business divisions, including IT and Business Services (ITBS), Engineering and R&D Services (ERS) and Products & Platforms (P&P). ITBS supports enterprises by helping to “transform their businesses through offerings in the areas of applications, infrastructure, digital process operations and next generation digital transformation solutions.”
ERS provides engineering services and solutions “in all aspects of product development and platform engineering. P&P provides modernized software products to global clients for their technology and industry specific requirements.”
Via its co-innovation labs, global delivery capabilities and broad global network, HCL “delivers holistic services in various industry verticals, including Financial Services, Manufacturing, Technology and Services, Telecom and Media, Retail and CPG, Life Sciences and Healthcare, and Public Services.”
As an international tech firm, HCL takes pride “in its diversity, social responsibility, sustainability, and education initiatives.” For the 12 months ended June 30, 2021, HCL had “consolidated revenue of $10.54 billion. Its more than 175,000 Ideapreneurs operate out of 50 countries.”