IT services company HCL Technologies has signed a five-year application support transformation deal with Deutsche Bank's capital markets arm.
The company did not disclose the exact size of the order but said it was a multi-million dollar engagement.
“The transformational programme, which will result in significant vendor consolidation, involves the management of key banking applications that are the backbone to Deutsche Bank's critical businesses,” an HCL statement said.
For HCL Technologies, this is the 10th year of strategic relationship with Deutsche Bank.
The statement further said that the service factory delivery model implemented by HCL is aimed at enhancing productivity, driven by transparent Service Level Agreements and performance metrics.
The deal comes at a time when Deutsche Bank is trying to move away from a traditional applications support model to process driven services governed by global standards such as Information Technology Infrastructure Library and LEAN, it added.