SOURCE: HCL Technologies Ltd.

HCL Technologies Ltd.

November 03, 2009 09:24 ET

iLumen™ and HCL Announce Strategic Relationship

HCL's CapitalStream Platform for Business and Commercial Lending Powered by iLumen iDEA® Data Platform and Integrated With iLumen's Portfolio Connection® and Customer Connection®

ATLANTA, GA and NOIDA, INDIA--(Marketwire - November 3, 2009) - In a joint announcement, HCL Technologies and iLumen, Inc. today announce a strategic relationship to power CapitalStream, HCL's business and commercial lending system, using iLumen technology. The combined offering will extend CapitalStream's Straight Through Processing solution to allow a bank's customers to send financial statements, information and documents through a secure electronic portal thereby improving customer data and relationship management while also lowering costs and enhancing portfolio management. The partnership will include both technical product integrations and co-marketing arrangements.

iLumen provides enabling technology for commercial banks to connect, consolidate and standardize both internal bank data and customer-submitted data into a common data model and repository for credit, risk, and relationship management. HCL's CapitalStream solution is a complete software platform for business and commercial lending that automates sales, origination, credit, due diligence, documentation, and portfolio management. Integrating CapitalStream with iLumen's technology extends the automated life cycle of commercial relationships all the way to the ultimate source of credit information, the desktop of each individual borrower. For more information about iLumen and its products, visit www.iLumen.com. For more information about HCL and the CapitalStream platform, visit www.hcltech.com/capitalstream.

"One of the most costly and time consuming challenges facing business and commercial lenders is the collection of financial statements, tax returns and other business documents from a bank's business customers. iLumen eliminates this cost while improving information accessibility and accuracy by providing a platform that completely automates the capture and standardization of this documentation and data," says Mike Pennell, vice president HCL CapitalStream Lending Group. "By extending and integrating CapitalStream with iLumen's platform, we will provide a truly end-to-end commercial lending solution extending from the bank to the borrower. Moreover, the banks that use the integrated platform will reduce risk by improving the quality and timeliness of information about their customer's businesses so they can spot potential business problems earlier and address problem loans before they go bad."

"iLumen is a 'powered by' technology provider that will enable CapitalStream to deliver a total solution for commercial lending," says Michael Canzian, president/COO of iLumen. "Enabling our platform behind CapitalStream and the broader HCL network is valuable for both parties. CapitalStream has the opportunity to leverage our self-serve customer portal (Customer Connection™) and our centralized data platform (iDEA™) to become the true leader in Straight Through Processing and end-to-end solutions. Conversely, iLumen further expands its network of banks that depend on iLumen technology to connect disparate systems and consolidate customer data into a desktop view for both credit risk managers and relationship managers."

About iLumen

iLumen, Inc. provides technology to capture, standardize, analyze and distribute company financial data in order to solve critical problems in risk management, relationship management and financial oversight within the banking, accounting and corporate environments. iLumen's services are based on a proprietary business intelligence and data mapping engine that delivers clean, accurate and timely customer data to enable efficiency, customer intelligence, and competitive advantage . For more information visit www.ilumen.com or call 888-663-8003. iLumen™, iDEA®, Portfolio Connection® and Customer Connection® are trademarks of iLumen Inc., all rights reserved.

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


About HCL

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 23 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

Forward-looking Statements

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.

Contact Information