and HCL Technologies Ltd (HCL) today announced a strategic partnership to open
new markets and drive innovation, quality improvements and speed to market for
key Misys financial services solutions in high growth economies.
are three key elements to this partnership:
" HCL selects Misys as
its preferred banking software partner
" Joint creation of an upgrade
solution centre to expedite upgrades
" Flexible global sourcing model
for development to improve quality and speed to market and gain access to HCL''s
world leading business processes and skills
will be HCL''s preferred banking software partner and the two companies will jointly
market Misys'' award winning banking and treasury & capital markets solutions
in India, Singapore and Malaysia. This is a landmark announcement enabling both
Companies to gain market share in fast growing economies.
is experiencing strong growth and analysts anticipate IT spend in the banking
sector will continue to grow at up to 20 per cent per year. The majority of software
decisions in India are won by local players and HCL is one of India''s leading
global IT services companies with a very strong footprint.
and Misys will jointly market Misys'' award winning solutions, including Misys
Opics, Misys Trade Innovation, Misys Summit and Misys Trade Portal. This will
enable Misys to increase its share in this fast growing market. A similar arrangement
is also in place for HCL and Misys to work together in Malaysia and Singapore.
and HCL together will create an upgrade solution centre to leverage world class
professional services skills and technical tools in order to more rapidly migrate
customers to the latest versions of Misys software. Misys is experiencing demand
for its award-winning financial services products and working with HCL will enable
Misys customers globally to benefit from rapid access to the very latest products.
Customers of Misys Opics upgrading to Misys Opics Plus and customers of Misys
Midas upgrading to Misys Midas Plus will now have a streamlined upgrade path that
is faster and more predictable in delivering tangible business results.
has selected HCL as a preferred strategic development partner. Misys is establishing
a flexible, global sourcing model for development and leveraging the expertise
and capabilities of partners such as HCL, in addition to the growing Misys India
development centre. Misys will collaborate with partners to accelerate the delivery
of new products and more efficiently maintain existing products. It is anticipated
that this relationship will grow over time.
is an exciting day for HCL, we have selected Misys as our preferred software vendor
because of their track record and deep understanding of the financial services
software market," said Shiv Nadar, chairman and chief strategy officer, HCL
Technologies Ltd.. "Misys'' award winning solutions coupled with our proven
business process expertise and market position make this a strong combination
that will drive value for financial institutions in India and other key growth
economies. In addition having Misys put their trust in us for services and development
capability is a great endorsement of our strategy to deliver value add services
for key global players."