SUNNYVALE, CA; NOIDA, India - December 1, 2009 - HCL Technologies Ltd. (HCL), a leading global IT services provider, has been named to the prestigious FinTech 25 ranking of the top global technology providers to the financial services industry for the first time. Developed by SourceMedia publications, American Banker and Bank Technology News and in association with IDC Financial Insights, the list recognizes the top global technology and service providers in the financial services market. The ranking is categorized and evaluated based on CY08 year-end revenues and the percentage of revenues attributed to financial services.
"We are extremely pleased to be recognized for our ongoing efforts to help financial services customers address their most difficult operational and IT challenges in one of the most trying economic times in history," said Prasanna Satpathy, SVP and Head, Financial Services, North America, HCL. "With a laser focus on providing value-based services and a foundation of specific domain area expertise, HCL will continue to transform technology into a competitive advantage for the world's largest and most complex financial services companies."
Two major categories of companies are included in the rankings: Financial technology companies that derive more than one-third of their total global revenue from the financial services industry; and enterprise technology companies, those horizontal technology companies that sell and support multiple industries.
HCL was part of the second category. It is especially noteworthy that HCL made an entrée into the ranking for the first time this year as it has been one of the most challenging times in history for financial services companies and HCL still continues to thrive in these trying times.
This award comes on the heels of HCL's recently announced, $200M agreement with UK-based insurance firm Equitable Life Assurance Society. This is HCL's first major financial services win since the acquisition of Liberata Financial Services in 2008. The agreement reinforces HCL's position as an established and experienced provider of strategic life and pensions outsourcing solutions.
With HCL, leading global financial services firms can manage risk, comply with regulations, enhance product features, and manage transformational challenges while driving efficiency and improving service levels. To learn more about HCL's offerings for financial institutions please visit http://www.hcltech.com/financial-services.
For more information on the annual FinTech listing visit www.AmericanBanker.com/fintech100.
The HCL Technologies stock closed the day at Rs.340, up by Rs.3.75 or 1.12%. The stock hit an intraday high of Rs.344.90 and low of Rs.337.25.
The total traded quantity was 85558 compared to 2 week average of 139790.
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