HCLTech and apoBank deepen partnership with $278M deal over 7.5 years

HCLTech, a leading global technology company, has expanded its strategic partnership with Deutsche Apotheker- und Arztebank eG (apoBank), Germany's largest cooperative primary bank. The deal, worth $278 million over 7.5 years, will see HCLTech provide outcome-oriented managed services, delivering resilient, scalable, high-quality, and compliant Digital Foundation services. This will enable apoBank to deliver fast and secured banking services to its customers. The partnership will leverage HCLTech's comprehensive portfolio of managed infrastructure and cloud services, as well as its strong expertise with Avaloq’s core banking system.