Shares of HCL Technologies Ltd were trading in the green and 3% higher on 25 March after the company announced that they have partnered with Western Union to encourage innovation and change in the financial services industry.
Through the partnership, Western Union will use HCLTech’s AI-powered solutions, FENIXAI and AI Force, to accelerate its transition to a platform-centric operating model, which will allow for more agility and scalability.
Additionally, HCLTech will help Western Union enhance its platform and channel capabilities. The enterprise’s infrastructure will be transformed by HCLTech, which will encourage data-driven decision-making and resiliency.
Additionally, in collaboration with HCLTech, Western Union will open a state-of-the-art technological facility in Hyderabad, India.
C Vijayakumar, CEO and managing director of HCLTech, said, “This strategic partnership emphasizes our focus on empowering fintech companies through digital engineering led transformation and creating exceptional value for their stakeholders. We remain deeply committed to Western Union’s growth journey through innovative solutions that deliver real business outcomes.”
The Western Union Company offers cross-border, cross-currency money movement, payments, and digital financial services that connect individuals, businesses, financial institutions, and governments to billions of bank accounts, millions of digital wallets and cards, and hundreds of thousands of retail locations across more than 200 countries and territories and more than 130 currencies.
HCLTech is an international technology company with over 220,000 workers in 60 countries. It has industry-leading expertise in digital, engineering, cloud, and artificial intelligence, all backed by a broad range of technology services and solutions. The company provides clients in all of the primary verticals with industry solutions for Financial Services, Manufacturing, Life Sciences and Healthcare, Technology and Services, Telecom and Media, Retail and CPG, and Public Services.
At 1:39 pm, the shares of HCL Tech were trading 1.68% higher at Rs 1,631.10 on NSE.
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