HCL Technologies, Sage Ally

by CXOtoday Staff    Nov 06, 2006

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

The companies will work together to develop, distribute and implement Sage’s flagship product with HCL’s expertise and services.

As per the terms of the alliance, SAGE will work with HCL to expand software development capacity and service offerings to the financial services industry. The companies will cross-sell products and services to clients globally. The alliance will initiate product-engineering services, testing and software implementation and offer dedicated support at either end.

HCL corporate vice president and global head, financial services, Prem Kumar said, “The partnership between HCL and Sage brings together complementary skill sets. It will provide the financial services industry a value proposition based on proven products and services with domain expertise.”

Prospero is an integrated wealth management platform that meets the transactional processing and reporting needs of wealth management organizations throughout the world.

Robert Tschan, director, SAGE commented: “We realized from the outset that as a start-up with finite resources, finding an offshore partner with the right culture and expertise was needed to grow our business. HCL will provide expertise in software engineering, project management and importantly, global reach. Partnering with HCL will enable us to rapidly scale up our engineering team and extend our development and implementation capabilities. It is important because it will give us the capability to achieve aggressive growth milestones.”

Tags: HCl, Sage, Alliance