HCL Tech partners AWS to push for AI-led financial modernisation

HCLTech has announced a new strategic collaboration agreement with Amazon Web Services to bring autonomous, AI-driven solutions into the financial services sector. The move aims to support banks, wealth managers and insurers seeking to modernise ageing systems and sharpen customer engagement while balancing rising regulatory and sustainability demands.

The collaboration combines HCLTech’s domain experience with the scale of AWS. Together, the companies plan to help financial institutions address challenges linked to legacy platforms, fragmented data and evolving compliance expectations.

Srinivasan Seshadri, Chief Growth Officer & Global Head of Financial Services, HCLTech, said the industry now needs partners who can stay engaged throughout the transformation process. He said financial institutions continue to face pressure to upgrade their technology and improve customer experiences, while many still struggle with traditional infrastructure and complex regulatory layers. He said the joint work with AWS offers solutions designed specifically for these needs and aims to support a shift towards more autonomous operations.

HCLTech will introduce a set of pre-built solutions aligned to industry standards. These will target modern contact centres, improved digital engagement and upgrades to core platforms across Banking, Wealth and Insurance. The company will also extend strategic consulting for institutional clients. New offerings in Wealth and Banking are expected to run on AWS, with an emphasis on delivering autonomous financial services at scale.

Vikram Dewan, CIO, Jefferies, said the combined engagement with HCLTech and AWS is enabling higher agility and innovation as the company modernises its financial platforms and explores broader use of Cloud and AI.

Scott Mullins, Managing Director of Worldwide Financial Services, AWS, said the collaboration joins AWS’s sector expertise and Cloud infrastructure with HCLTech’s consultative approach and delivery models. He said the objective is to help financial institutions innovate while meeting required security and compliance thresholds.

The agreement builds on an existing relationship between HCLTech and AWS. Both companies have previously worked together on programmes to help financial institutions shift core systems to the Cloud and adopt AI-based tools to improve customer experiences. The new phase of the collaboration aims to expand these capabilities and support a more autonomous future for financial operations.

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