(RTTNews) - Late Wednesday, HCL Technologies Ltd., said it had partnered with iLumen, Inc. to provide HCL's CapitalStream for business and commercial lending powered by the latter's iDEA Data Platform and integrated with its Portfolio Connection and Customer Connection. The partnership will include both technical product integrations and co-marketing arrangements.

The combined offering will extend Capital Stream' s Straight Thru Processing solution to allow a bank's customers to send financial statements, information and documents through a secure electronic portal, thereby improving customer data and relationship management, while also lowering costs and enhancing portfolio management.

HCL's CapitalStream solution is a complete software platform for business and commercial lending that automates sales, origination, credit, due diligence, documentation, and portfolio management. Integrating CapitalStream with iLumen's technology extends the automated life-cycle of commercial relationships all the way to the ultimate source of credit information, the desktop of each individual borrower, the company said.

Vice President HCL CapitalStream Lending Group Mike Pennell said: "One of the most costly and time consuming challenges facing business and commercial lenders is the collection of financial statements, tax returns and other business documents from a bank's business customers. iLumen eliminates this cost by providing a platform that completely automates the capture and standardization of this documentation and data, By extending and integrating CapitalStream with iLumen's platform, we will provide a truly end-to-end commercial lending solution extending from the bank to the borrower."

President/Chief Operating Officer of iLumen Michael Canzian said: "iLumen is a powered by technology provider that will enable CapitalStream to deliver a total solution for commercial lending. CapitalStream has the opportunity to leverage our self-serve customer portal and our centralized data platform to become the true leader in Straight Through Processing and end-to-end solutions. Conversely, iLumen further expands its network of banks that depend on iLumen technology to connect disparate systems and consolidate customer data into a desktop view for both credit risk managers and relationship managers."

iLumen provides enabling technology for commercial banks to connect, consolidate and standardize both internal bank data and customer-submitted data into a common data model and repository for credit, risk, and relationship management.

At the BSE, HCL Tech shares are currently trading at Rs.283.75, down by Rs.4.85 or 1.68% on a volume of around 40K shares. The scrip touched an intraday high of Rs.291.00 and a low of Rs.280.45.

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