HCL Technologies and CSC, the global IT firms have created a joint venture for a banking software and services.

According to a statement, the JV will invest in platform modernisation and product functionality enhancement and will capitalise on capabilities of both companies in addressing the multi-billion-dollar, global core banking software market.

Anant Gupta, HCL Technologies President and CEO said, the banking industry is taking bold steps toward cloud deployments and digital integration with surrounding applications and platforms.

He further added that many of HCL’s banking clients are looking for modernisation of their legacy platforms while simultaneously managing the burgeoning demands for data analytics services, multi-channel deployments, and increasing regulatory compliance requirements.

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