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HCL expands deal with Barclays

HCL has built on its strategic relationship with Barclays. In addition to HCL being named as Barclays’ preferred partner for IT infrastructure services, the two companies will commit to building the partnership globally, with particular opportunities regarding digital workplace services.

HCL will leverage its significant investments in AI and automation, including its award-winning automation platform DryICE™, to transform the user experience for more than 80,000 Barclays employees across 26 countries. HCL will also be providing mainframe services to Barclays.

As part of the deal, it is intended that approximately 460 Barclays employees in its Operations Center in Lithuania will transfer to HCL, which promises to start a new era of technology centers in Lithuania. The agreement with HCL forms the basis of the Barclays’ decision to conclude its operations in Lithuania, with remaining employees being offered redundancy.

The contract between HCL and Barclays is yet to be executed pending banking regulatory notification; both companies hope to conclude the deal during the first quarter of 2019.

Rahul Singh, President of Financial Services at HCL Technologies, commented: “Our partnership with Barclays is a significant endorsement of HCL’s digital workplace and automation capabilities. We already employ more than 10,000 people in Europe, serving over 200 European clients. This new agreement will see HCL deliver transformational services to both Barclays and other major clients from Lithuania. Many well-known brands have already established their centers in Lithuania and we see good potential here due to the attractive investment climate and specialist talent. We will leverage these with our unique Mode 1-2-3 strategy to enable clients to reimagine their businesses for the digital age.”

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