Mumbai, Nov. 3: HCL Technologies has entered into a strategic alliance with Sage, a Switzerland-based software development company, for the financial services industry. The alliance will help develop the Prospero private wealth management application. Under the alliance, both companies will work together to develop, distribute and implement Sage’s flagship product. They will also develop new business opportunities, HCL said in a statement. There is no equity involved in the alliance.

“Prospero covers transactional, processing and reporting needs for wealth management organisations throughout the world. Currently under evaluation throughout European businesses, Prospero is an integrated wealth management platform,” it said in a statement.

“The partnership brings together complementary skill sets, and will provide the financial services industry with a value proposition based on proven products and services with domain expertise. HCL has partnered with Sage to broaden its offerings for private wealth management organisations to offer the benefits of an integrated product,” Premkumar, corporate vice-president and global head, financial services, HCL Technologies said.