Temenos will continue its research and development (R&D) investment in its industry-leading Temenos MXDP, and will support and service both Temenos financial services clients as well as existing non-financial services clients that are currently contracted with Temenos, the statement said.
Temenos, a banking software company, and HCL Technologies on Tuesday announced signing of an exclusive strategic agreement for non-financial services enterprises. As part of this agreement, HCL has been granted a licence to develop, market and support Temenos multi-experience development platform (MXDP) for non-financial services enterprises, according to a statement.
The agreement is exclusive for seven years, it added.
Temenos will continue its research and development (R&D) investment in its industry-leading Temenos MXDP, and will support and service both Temenos financial services clients as well as existing non-financial services clients that are currently contracted with Temenos, the statement said.
"This agreement with HCL provides our existing non-financial services clients with world-class technology and the highest-levels of services and support... This agreement provides Temenos with further enhanced visibility on profitability and cash flow and underlines the resilience of Temenos' business model," it added.
"We are excited to announce this exclusive agreement with HCL, which ensures that non-financial services clients have the best possible service and support, while allowing Temenos to focus on its core business of financial services," Temenos Chief Executive Officer Max Chuard said.
HCL said this pact has a positive impact on its total software licensing and non-IFRS earnings before interest and tax and is on an average 1-2 per cent accretive to non-IFRS earnings per share per annum for the duration of the exclusivity.
HCL Software develops, markets, sells and supports over 20 product families in the areas of DevSecOps, automation, digital solutions, data management, marketing and commerce and mainframes.
"We have said from the beginning that HCL Software will grow its technology in a strategic way and will invest in innovation... Temenos' multi-experience development platform is the market leader and complimentary to our portfolio," Darren Oberst, corporate vice-president and head of HCL Software, said.
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