has won a multi-year contract with Lendico, a brand of ING Germany, to create a digital platform that will make commercial banking faster and more convenient for small and medium-sized enterprises (SMEs).
HCL will set up a tech laboratory in Berlin that will combine fintech mindset, agile culture and customer orientation with engineering expertise, global delivery capabilities and in-depth knowledge of financial services and risk management. Lendico will be the first to use the lab to bring innovative approaches to processes like loan decisions, credit collections and KYC, HCL said in a statement. She did not disclose the deal value.
“We want to create complete business banking solutions that strengthen our position as a strong partner for medium-sized companies based on the agile mentality that enables us to innovate and scale quickly,” says Sven Foos, Managing Director, Lendico and Head of Business Banking, ING Germany. “With its deeply rooted culture of digital innovation, next-generation engineering capabilities, and transformative frameworks, HCL was the ideal partner to support our journey.”
The lab will also enable transformative technology architectures such as API gateways and microservices. Lendico will be able to scale and bring new services to market faster by onboarding new partners quickly, thereby improving the customer experience, HCL said.
“Our partnership with Lendico is becoming a template for fintechs looking to scale digitally by adopting a platform-based ecosystem model. This approach will strengthen Lendico’s ability to quickly reach new customers and markets while complying with stringent industry regulations. Our fintech laboratory will become a hub for financial service innovations in Europe and will further strengthen HCL’s delivery capabilities for bank customers in Germany, ”said Sudip Lahiri, Senior Vice President and Head of Financial Services, Europe, HCL Technologies.
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