Temenos, HCL Ink 7-Year Exclusive Agreement For Non-Financial Services
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Temenos, a banking software company, and HCL Technologies, India’s third-largest software services firm on Tuesday announced the signing of an exclusive agreement for non-financial services.
As part of this agreement, HCL has been granted a license to develop, market and support Temenos multi-experience development platform (MXDP) for non-financial services enterprises. The pact has a seven-year exclusivity period.
In a statement, the company said that the partnership with HCL will provide its existing non-financial services clients with world-class technology and the highest-level of services and support. The company said the partnership will enhance visibility on profitability and cash flow.
Temenos, however, clarified that the exclusive deal will not include Temenos Infinity. Temenos Infinity is a digital banking product focused on customer experience.
Commenting on the deal, Max Chuard, chief executive officer of Temenos, said, “We are excited to announce this exclusive agreement with HCL, which ensures non-financial services clients have the best possible service and support, while allowing Temenos to focus on its core business of financial services. Under the agreement, non-financial services clients will continue to benefit from our significant R&D investment and innovation roadmap in the Quantum platform while HCL will bring world-class, cross-industry R&D and professional services.”
Darren Oberst, corporate vice president and head of HCL Software said, “We have said from the beginning that HCL Software will grow its technology in a strategic way and will invest in innovation. We are pleased to forge this agreement with Temenos. Temenos’ multi-experience development platform is the market leader and very complementary to our portfolio.”
Currently, HCL Software develops, markets, sells and supports over 20 in the areas of DevSecOps, Automation, Digital Solutions, Data Management, Marketing and Commerce and Mainframes