|By Marketwire .||
|November 30, 2009 09:50 AM EST||
SUNNYVALE, CA and NOIDA, INDIA -- (Marketwire) -- 11/30/09 -- 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.
HCL is a $5 billion leading global Technology and IT Enterprise that comprises two companies listed in India -- HCL Technologies & HCL Infosystems. Founded in 1976, HCL is one of India's original IT garage start-ups, a pioneer of modern computing, and a global transformational enterprise today. Its range of offerings spans Product Engineering, Custom & Package Applications, BPO, IT Infrastructure Services, IT Hardware, Systems Integration, and distribution of ICT products across a wide range of focused industry verticals. The HCL team comprises over 60,000 professionals of diverse nationalities, who operate from 26 countries including over 500 points of presence in India. HCL has global partnerships with several leading Fortune 1000 firms, including leading IT and Technology firms. For more information, please visit www.hcl.in.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with clients in the areas that impact and redefine the core of their businesses. Since its inception into the global landscape after its IPO in 1999, HCL focuses on 'transformational outsourcing', underlined by innovation and value creation, and offers integrated portfolio of services including software-led IT solutions, remote infrastructure management, engineering and R&D services and BPO. HCL leverages its extensive global offshore infrastructure and network of offices in 26 countries to provide holistic, multi-service delivery in key industry verticals including Financial Services, Manufacturing, Consumer Services, Public Services and Healthcare. HCL takes pride in its philosophy of 'Employee First' which empowers our 54,443 transformers to create a real value for the customers. HCL Technologies, along with its subsidiaries, had consolidated revenues of US$ 2.3 billion (Rs. 11,270 crores), as on 30th September 2009 (on LTM basis). For more information, please visit www.hcltech.com.
Certain statements in this release are forward-looking statements, which involve a number of risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those in such forward-looking statements. All statements, other than statements of historical fact are statements that could be deemed forward looking statements, including but not limited to the statements containing the words 'planned,' 'expects,' 'believes,' 'strategy,' 'opportunity,' 'anticipates,' 'hopes' or other similar words. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding impact of pending regulatory proceedings, fluctuations in earnings, our ability to manage growth, intense competition in IT services, Business Process Outsourcing and consulting services including those factors which may affect our cost advantage, wage increases in India, customer acceptances of our services, products and fee structures, our ability to attract and retain highly skilled professionals, our ability to integrate acquired assets in a cost effective and timely manner, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, the success of our brand development efforts, liability for damages on our service contracts, the success of the companies /entities in which we have made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property, other risks, uncertainties and general economic conditions affecting our industry. There can be no assurance that the forward looking statements made herein will prove to be accurate, and issuance of such forward looking statements should not be regarded as a representation by the Company, or any other person, that the objective and plans of the Company will be achieved. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company.