Shares of HCL Technologies climbed 1.80% to ₹1,633 in early trade on Tuesday, gaining ₹28.85 from the previous close of ₹1,604.15, after the company announced a strategic partnership with Western Union. The deal focuses on transforming financial services using AI, cloud, and digital engineering solutions.
Under the agreement, HCLTech will become Western Union’s largest preferred technology partner, supporting its shift to a platform-centric operating model. The collaboration will harness HCLTech’s AI solutions, FENIXAI and AI Force, to enhance operational efficiency, scalability, and security.
The deal also involves full-stack digital engineering transformation and improved data-driven decision-making capabilities.
A notable aspect of this partnership is the establishment of a new advanced technology centre in Hyderabad. This facility will expand Western Union’s tech capabilities globally and promote innovation in the Indian tech space.
Western Union CEO Devin McGranahan emphasized that the move aligns with their mission of expanding financial access worldwide. HCLTech CEO C Vijayakumar reaffirmed the company’s commitment to supporting fintech transformation with advanced technology solutions.
