Newsletter
HCLTech has entered into a collaboration with Amazon Web Services (AWS) to roll out autonomous, AI-powered solutions for banks, wealth managers and insurers.
The deets: HCLTech is rolling out ready-made tools that banks and insurance companies can start using right away. These tools will help modernise contact centres, make digital services smoother and upgrade the main systems used across banking, wealth and insurance.
Why this is big: the partnership strengthens the long-standing HCLTech-AWS relationship and gives financial institutions ready-to-deploy AI solutions at scale.
With rising pressure to digitise, meet regulatory norms and improve service quality, the tie-up gives HCLTech a stronger foothold in one of the fastest-growing parts of tech transformation.
The big picture: AI spending in the BFSI sector is set to explode over the next decade, rising from $31.6 billion in 2024 to nearly $190 billion by 2034.
Banks, insurers and wealth firms are rapidly turning to AI to automate processes, modernise core systems and improve customer experience, and the pace of adoption is only accelerating. With nearly a six-fold jump expected, financial institutions are under pressure to move faster on cloud and AI.
