HCL signs 5-year IT support deal with Deutsche Bank's capital markets arm

IT services company HCL Technologies Ltd (HCL) has signed a 5-year application support transformation contract with German banking major Deutsche Bank's capital markets arm.

The transformational programme, involving the management of key banking applications that are crucial to Deutsche Bank's critical businesses, will result in significant vendor consolidation, HCL said.

The multi-million dollar deal comes at a time when HCL completes 10 years of business relationship with Deutsche Bank, the release noted.

The new service delivery model being implemented by HCL will significantly enhance productivity, bring transparency in service and performance metrics as Deutsche Bank emerges from a traditional applications support model to a set of unique process driven services governed by global standards like IT Infrastructure Library (ITIL) and LEAN, HCL said in a release.

"This deal is one of the significant milestones in the strategic roadmap that has been charted by the company and we are delighted to continue along this journey with Deutsche Bank," said Parag Samarth, executive vice president, strategic accounts, HCL Technologies.

The implementation of the service model involves transformation throughout the organisation and creation of a of new order to increase efficiency and enhance productivity, HCL said.

HCL Technologies, a leading global IT services company focusing on transformational outsourcing, offers an integrated portfolio of services, including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO.

HCL has an extensive global infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals, including financial services, manufacturing, consumer services, public services and healthcare.