New Delhi: HCLTech has expanded its collaboration with Amazon Web Services (AWS) to push AI-driven modernisation across the financial services sector. The move comes as banks, insurers and wealth management firms continue to deal with legacy systems, regulatory pressures and rising demand for digital services.
The expanded agreement focuses on helping institutions automate key operations, modernise outdated platforms and improve customer-facing systems. HCLTech said it will introduce a set of industry-compliant, pre-built solutions designed for banking, insurance and wealth management firms. These offerings aim to support upgrades in contact centres, digital channels and core platforms, an area where many institutions still operate on fragmented data and ageing infrastructure.
Srinivasan Seshadri, chief growth officer and global head of financial services at HCLTech, said financial institutions increasingly need partners who can work across the entire transformation cycle. He noted that legacy technology and compliance demands continue to shape investment decisions in the sector.
The collaboration will also see HCLTech provide consulting support to financial institutions looking to scale cloud and AI adoption. AWS executives said the joint effort is structured to align with sector-specific security and compliance requirements, which remain a major consideration for financial firms moving critical workloads to the cloud.
Industry stakeholders such as Jefferies are already working with both companies to modernise their financial platforms, with CIO Vikram Dewan noting that cloud- and AI-led programmes are helping institutions introduce more agile technology environments.
The latest agreement builds on an existing partnership between HCLTech and AWS, reflecting broader market trends where financial firms are accelerating digital transformation to manage operational complexity and technological debt.
