HCL Technologies (HCL), a leading global technology company, strengthened its Leader position as the Star Performer in the recently published Global Capital Markets Application Services PEAK Matrix™ 2018 report by Everest Group. As part of the analysis, Everest Group studied the vision and capability of 27 IT service providers for capital markets application services and positioned HCL a Leader for the fourth consecutive year.

The capital markets Application Services (AS) grew at 4-5%, driven by an increase in spending on modernization and platform-led transformation. As many as 7 of the top 27 IT service providers witnessed over 10% growth in their capital markets AS business. HCL has witnessed significant market traction in their Capital Markets practice by leveraging their robust talent model, global delivery presence, extensive consulting capabilities, and good depth/breadth of solutions/services portfolio that has helped them become strategic business partners to capital markets clients. Their consulting-led selling approach has made them one of the preferred vendors for change management.

HCL was selected as a Star Performer and has been assessed high for top quartile performance across both ‘vision and capabilities’ as well as ‘market impact’. Peer growth rates and ability to win multiple new large deals were cited as HCL’s distinguishing factors of market success. Continued investments into acquisitions, reg-techs, partnerships to strengthen digital capabilities, investment in talent, innovation labs, and solution accelerators were cited as distinguishing features of capability advancements.

“As the market is witnessing adoption of digital themes with data, cloud, blockchain and analytics being the key areas of investment, our goal focusses on enabling customers launch new products, create differentiated user experiences, and reduce risks & cost prevailing due to legacy technology” said Rahul Singh, President and Global Head of Financial Services, HCL Technologies. “This recognition highlights our vision to simplify, digitize, and disrupt to build futuristic solutions for our customers.”

“The capital markets industry is leveraging a platform-based economy to gain efficiency, collaborate with the ecosystem, and create superior experience. Enterprises look to reduce the costs of their ‘run-the-business’ initiatives and funnel savings to their change agendas.” said Jimit Arora, Partner, Everest Group. “HCL has a well-balanced services portfolio across the asset management and buy-side value chain. Additionally, its strong technical and domain expertise, new large IT modernization engagement wins, and recognition by clients for flexibility in engagements has helped HCL position as a Leader on the Capital Markets Application Services PEAK Matrix.”