ATLANTA, GA and NOIDA, INDIA -- 11/03/09 --
In a joint announcement, HCL
Technologies and iLumen, Inc. today announce a strategic relationship to
power CapitalStream, HCL's business and commercial lending system, using
iLumen technology. The combined offering will extend CapitalStream's
Straight Through Processing solution to allow a bank's customers to send
financial statements, information and documents through a secure electronic
portal thereby improving customer data and relationship management while
also lowering costs and enhancing portfolio management. The partnership
will include both technical product integrations and co-marketing
arrangements.
iLumen provides enabling technology for commercial banks to connect,
consolidate and standardize both internal bank data and customer-submitted
data into a common data model and repository for credit, risk, and
relationship management. HCL's CapitalStream solution is a complete
software platform for business and commercial lending that automates sales,
origination, credit, due diligence, documentation, and portfolio
management. Integrating CapitalStream with iLumen's technology extends the
automated life cycle of commercial relationships all the way to the
ultimate source of credit information, the desktop of each individual
borrower. For more information about iLumen and its products, visit
www.iLumen.com. For more information about HCL and the CapitalStream
platform, visit www.hcltech.com/capitalstream.
"One of the most costly and time consuming challenges facing business and
commercial lenders is the collection of financial statements, tax returns
and other business documents from a bank's business customers. iLumen
eliminates this cost while improving information accessibility and accuracy
by providing a platform that completely automates the capture and
standardization of this documentation and data," says Mike Pennell, vice
president HCL CapitalStream Lending Group. "By extending and integrating
CapitalStream with iLumen's platform, we will provide a truly end-to-end
commercial lending solution extending from the bank to the borrower.
Moreover, the banks that use the integrated platform will reduce risk by
improving the quality and timeliness of information about their customer's
businesses so they can spot potential business problems earlier and address
problem loans before they go bad."
"iLumen is a 'powered by' technology provider that will enable
CapitalStream to deliver a total solution for commercial lending," says
Michael Canzian, president/COO of iLumen. "Enabling our platform behind
CapitalStream and the broader HCL network is valuable for both parties.
CapitalStream has the opportunity to leverage our self-serve customer
portal (Customer Connection(TM)) and our centralized data platform
(iDEA(TM)) to become the true leader in Straight Through Processing and
end-to-end solutions. Conversely, iLumen further expands its network of
banks that depend on iLumen technology to connect disparate systems and
consolidate customer data into a desktop view for both credit risk managers
and relationship managers."
About iLumen
iLumen, Inc. provides technology to capture, standardize, analyze and
distribute company financial data in order to solve critical problems in
risk management, relationship management and financial oversight within the
banking, accounting and corporate environments. iLumen's services are based
on a proprietary business intelligence and data mapping engine that
delivers clean, accurate and timely customer data to enable efficiency,
customer intelligence, and competitive advantage . For more information
visit www.ilumen.com or call 888-663-8003. iLumen(TM), iDEA®, Portfolio
Connection® and Customer Connection® are trademarks of iLumen Inc., all
rights reserved.
About HCL Technologies
HCL Technologies is a leading global IT services company, working with
clients in the areas that impact and redefine the core of their businesses.
Since its inception into the global landscape after its IPO in 1999, HCL
focuses on 'transformational outsourcing,' underlined by innovation and
value creation, and offers integrated portfolio of services including
software-led IT solutions, remote infrastructure management, engineering
and R&D services and BPO. HCL leverages its extensive global offshore
infrastructure and network of offices in 20 countries to provide holistic,
multi-service delivery in key industry verticals including Financial
Services, Manufacturing, Aerospace & Defense, Telecom, Retail & CPG, Life
Sciences & Healthcare, Media & Entertainment, Travel, Transportation &
Logistics, Automotive, Government, Energy & Utilities. HCL takes pride in
its philosophy of 'Employee First' which empowers our 54,026 transformers
to create a real value for the customers. HCL Technologies, along with its
subsidiaries, had consolidated revenues of US$ 2.0 billion (Rs. 9,842
crores), as on 31st March 2009. For more information, please visit
www.hcltech.com
About HCL
HCL is a $5 billion leading global Technology and IT Enterprise that
comprises two companies listed in India -- HCL Technologies & HCL
Infosystems. Founded in 1976, HCL is one of India's original IT garage
start-ups, a pioneer of modern computing, and a global transformational
enterprise today. Its range of offerings spans Product Engineering, Custom
& Package Applications, BPO, IT Infrastructure Services, IT Hardware,
Systems Integration, and distribution of ICT products across a wide range
of focused industry verticals. The HCL team comprises over 60,000
professionals of diverse nationalities, who operate from 23 countries
including over 500 points of presence in India. HCL has global partnerships
with several leading Fortune 1000 firms, including leading IT and
Technology firms. For more information, please visit www.hcl.in
Forward-looking Statements
Certain statements in this release are forward-looking statements, which
involve a number of risks, uncertainties, assumptions and other factors
that could cause actual results to differ materially from those in such
forward-looking statements. All statements, other than statements of
historical fact are statements that could be deemed forward-looking
statements, including but not limited to the statements containing the
words 'planned,' 'expects,' 'believes,' 'strategy,' 'opportunity,'
'anticipates,' 'hopes' or other similar words. The risks and uncertainties
relating to these statements include, but are not limited to, risks and
uncertainties regarding impact of pending regulatory proceedings,
fluctuations in earnings, our ability to manage growth, intense competition
in IT services, Business Process Outsourcing and consulting services
including those factors which may affect our cost advantage, wage increases
in India, customer acceptances of our services, products and fee
structures, our ability to attract and retain highly skilled professionals,
our ability to integrate acquired assets in a cost effective and timely
manner, time and cost overruns on fixed-price, fixed-time frame contracts,
client concentration, restrictions on immigration, our ability to manage
our international operations, reduced demand for technology in our key
focus areas, disruptions in telecommunication networks, our ability to
successfully complete and integrate potential acquisitions, the success of
our brand development efforts, liability for damages on our service
contracts, the success of the companies / entities in which we have made
strategic investments, withdrawal of governmental fiscal incentives,
political instability, legal restrictions on raising capital or acquiring
companies outside India, and unauthorized use of our intellectual property,
other risks, uncertainties and general economic conditions affecting our
industry. There can be no assurance that the forward-looking statements
made herein will prove to be accurate, and issuance of such forward-looking
statements should not be regarded as a representation by the Company, or
any other person, that the objective and plans of the Company will be
achieved. All forward-looking statements made herein are based on
information presently available to the management of the Company and the
Company does not undertake to update any forward-looking statement that may
be made from time to time by or on behalf of the Company.
For details, contact
Kirsten Paragona
Mobile +857 350-5393
Email: kparagona@hcl.in
Loren Eckart
iLumen
404-446-1600
Email: leckart@ilumen.com
Jill Newberry
BluePoint Venture Marketing for HCL Technologies
781-861-7800
Email: jill@bluepointmktg.com