HCL Technologies & Sage sign Alliance to develop Private Wealth Management Solutions

HCL Technologies Ltd has announced that the Company and SAGE, a Switzerland based software development Company for the financial services industry, on November 03, 2006 announced a strategic alliance to develop the Propsero private wealth management application.

Under the alliance, the Company and SAGE will work together to develop, distribute and implement SAGE's flagship product using the Company's expertise and services. This will include product engineering initiatives, testing and software implementation and the provision of dedicated support. Both Companies will also work together on the development of new business opportunities.

Prospero covers transactional, processing and reporting needs for wealth management organisations throughout the world. Currently under evaluation throughout European businesses, Prospero is a truly integrated wealth management platform.

The partnership has been signed to leverage capabilities of both organisations in product engineering and project management. SAGE will work with the Company to expand their software development capacity and will enable the Company to grow its service offerings for the financial services industry. SAGE and the Company will work also together to cross-sell their products and services to existing and future clients globally.

Premkumar, corporate vice president and global head, financial services, of the Company commented: "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 with SAGE to broaden its offerings for private wealth management organisations to offer the benefits of an integrated product."

The Company's integrated services in the areas of software development and maintenance, intrastructure and business process outsourcing (BPO) have helped many Companies realise transformational benefits. In addition, the Company has been the outsourcing partner of choice for many independent software vendors (ISVs), Internet content providers and other software-enabled companies for implementation.

Source : Equity Bulls

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