Western Union forms strategic partnership with HCLTech to transition to an AI led platform operating model

HCLTech and Western Union announce a strategic partnership to drive innovation and transformation in the financial services industry.

The strategic partnership establishes HCLTech as Western Union's largest preferred partner as they collaborate to:

(i) Transition to a platform operating model: Western Union will leverage HCLTech's AI-powered solutions, FENIXAI and AI Force, to accelerate Western Union's transition to a platform-centric operating model, enabling greater agility and scalability.

(ii) Accelerate platform and channel transformation: Western Union will harness HCLTech's cutting-edge digital, cloud, and AI solutions to enhance platform and channel capabilities, delivering seamless and innovative customer experiences. HCLTech will support data driven decision making and increased resilience through enterprise-wide infrastructure transformation.

(iii) Leverage expertise in digital engineering: HCLTech's proven track record in digital engineering will accelerate Western Union's work to reimagine its technology landscape, implement full stack observability and automation, increase efficiency through AI-assisted methods, and ensure robust and future-ready solutions.

(iv) Expand technology footprint in India: Western Union, in collaboration with HCLTech, will establish an advanced technology center in Hyderabad, India. This will further enhance Western Union's global technology capabilities and create new opportunities for innovation and talent development.

Devin McGranahan, President and Chief Executive Officer of Western Union, added, "Our collaboration with HCLTech is a testament to our shared vision of delivering exceptional value to our customers. HCLTech's expertise will help us fulfill our mission to make world-class financial services accessible to people everywhere."

C Vijayakumar, CEO and Managing Director of HCLTech, said, "This strategic partnership emphasizes our focus on empowering fintech companies through digital engineering led transformation and creating exceptional value for their stakeholders. We remain deeply committed to Western Union's growth journey through innovative solutions that deliver real business outcomes."

This partnership reflects the shared values and vision of HCLTech and Western Union, as they work together to supercharge progress and create a lasting impact for our strategic clients.

Shares of HCL Technologies Limited was last trading in BSE at Rs. 1604.10 as compared to the previous close of Rs. 1567.65. The total number of shares traded during the day was 157032 in over 7993 trades.

The stock hit an intraday high of Rs. 1610.65 and intraday low of 1560.20. The net turnover during the day was Rs. 249171935.00.

Source : Equity Bulls

Keywords

HCLTechnologies INE860A01027 StrategicPartnership WesternUnion