HCL Technologies Signs Multi-million Dollar Contract With Deutsche Bank

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HCL Technologies announced that it has signed a  five year Application Support Transformation deal with Deutsche Bank’s Capital Markets arm. This deal comes as the bank endeavors to move away from a traditional applications support model to process driven services governed by global standards like ITIL (Information Technology Infrastructure Library. The transformation is expected to result in significant vendor consolidation, according to HCL Technologies, and involves the management of business critical banking applications. While the size of the deal was not made public, according to a release from HCL Technologies, it was a multi-million dollar contract.