HCL Technologies (HCL), a leading global IT services provider today announced that it has signed an application development and maintenance contract with Deutsche Bank. Under the terms of agreement, HCL will provide digital solutions, systems integration, product implementation and design, build and test new applications in addition to the ongoing application maintenance and support services.

"We are pleased to have been selected by Deutsche Bank and we look forward to helping them create a high performance banking application portfolio to support their key programmes over the coming years," said Parag Samarth, corporate vice president, financial services, HCL Technologies. "Innovative companies realize unique value by creating an agile IT function that drives innovation and growth, adapting their application landscapes to rapidly changing business environments."

HCL will manage and enhance some of the existing application suites, including corporate banking and securities, global transaction banking, asset and wealth management, and risk, finance and back-office operations across Deutsche Bank group. The program is part of a broader strategic initiative by Deutsche Bank. HCL is an innovation partner for the company's digital strategy which aims to enhance customer experience by bringing innovation to its products, services and operations.

Shares of the company gained Rs 11.75, or 1.4%, to settle at Rs 850.30. The total volume of shares traded was 48,157 at the BSE (Tuesday).