HCL Technologies (HCL), a leading global technology company, today announced it was selected as a launch partner for Microsoft’s recently announced industry cloud – Microsoft Cloud for Financial Services.

Microsoft Cloud for Financial Services brings together capabilities with multilayered security and comprehensive compliance coverage to deliver differentiated customer experiences, improve employee collaboration and productivity, manage risk and modernize core systems.

“We partnered with Microsoft in this key initiative because they will enable our HCL Financial Services Ideapreneurs to incorporate their decades of domain expertise into a futuristic hyperscale foundation,” said Rahul Singh, President, HCL Financial Services. “What our clients gain is a synergistic co-innovation effect: Microsoft surfacing new capabilities and HCL building differentiating solutions with our clients and partners.”

One key solution is HCL’s PowerBanking product, built to leverage all available capabilities of the Microsoft Cloud for Financial Services. It enables comprehensive scenarios for retail bank customer engagement. Building upon offerings such as this, HCL Microsoft Ecosystem Unit (HCL MEU) works with a set of clients in private preview to use the current and future reusable components designed for retail banking in new customer scenarios.

Our strategic partners like HCL Technologies play a critical role in enabling the Microsoft Cloud for Financial Services and elevating the digital transformation journey for our customers,” said Bill Borden, Corporate Vice President of Worldwide Financial Services, Microsoft. “Banking customers working with HCL’s deep expertise in retail banking can take advantage of a tailored cloud solution built on Microsoft’s trusted platform with robust security and compliance to speed time to value while unlocking innovation for sustainable growth.”

“Similar to our Microsoft Cloud for Healthcare initiative, we used our long-standing relationship with Microsoft and our global Financial Services Industry capability to rally support and engage across HCL service lines,” said Kalyan Kumar, Chief Technology Officer and Head of Ecosystems for HCL Technologies. “In HCL, Microsoft has a comprehensive co-innovation technology partner that can help realize the product’s true and vision of the Microsoft Cloud for Financial Services.”