HCL to get automation from US Bank

Posted By: Religare
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HCL to get automation from US Bank
India"s fourth largest software service firm, HCL technologies has recently won a contract from US bank. The contract was offered by a unit of US bank First Horizon National Corp.

As per the contract the company winning the deal would be given the responsibility of automating the bank"s commercial lending operations gave the contract.

Although, the value of the contract was not disclosed by HCL, it made it clear that contract would require the company to cover banking lines of small business, business banking, commercial banking, commercial real estate, corporate banking and private banking.

The contract would now demand HCL Tech to arrange an integrated software platform, HCL CapitalStream. This particular software would help commercial banks and financial companies to enable Straight through Processing. Such a facility would help the organization to lend across, thus providing leasing portfolios that would improve better visibility and control of the organisation.

These would further be translated to improved efficiencies, risk reduction (across the portfolio of products and services). Thereby helping the bank to keep a close check and maintain the increasingly stringent regulatory compliance guidelines.

Read more about: hcl technologies, bse, nse
Story first published: Tuesday, May 17, 2011, 13:31 [IST]
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