Mumbai: HCL Technologies Ltd has teamed up with Sage, a Switzerland-based software development company, to develop the Propsero private wealth management application for the financial services industry.

Under the arrangement, the company and Sage will work together to develop, distribute and implement Sage''s flagship product using the company''s expertise and services, HCL isaid in a filing with the Bombay Stock Exchange (BSE). The alliance will initiate product engineering services, testing and software implementation and offer dedicated support at either end. The companies will also work together on the development of new business opportunities.

The partnership has been signed to leverage capabilities of both organisations in product engineering and project management. SAGE will work with HCL to expand their software development capacity and will enable the company to grow its service offerings for the financial services industry.

Sage and the HCL will also work together to cross-sell their products and services to existing and future clients globally.

"The partnership between HCL and Sage brings together complementary skill sets, and will provide the financial services Industry with a value proposition based on proven products and services with domain expertise. HCL has partnered Sage to broaden its offerings for private wealth management organisations to offer the benefits of an integrated product," Premkumar, corporate vice president and global head, financial services, of HCL commented.

HCL provides integrated services in software development and maintenance, intrastructure and business process outsourcing (BPO) services. The company has also been the outsourcing partner of choice for many independent software vendors (ISVs), internet content providers and other software-enabled companies. Prospero is an integrated wealth management platform that meets the transactional processing and reporting needs of wealth management organisations throughout the world.