Infosys has signed a strategic collaboration deal with Danske Bank, a Nordic bank, to accelerate the bank’s digital transformation initiatives. The $454 million deal will be in force for a period of 5 years with an option to renew for one additional year for a maximum of three times.
This collaboration will help Danske Bank achieve its strategic priorities towards better customer experiences, operational excellence, and a modernised technology landscape, powered by next-gen solutions, said the company.
Infosys will also acquire Danske Bank’s IT centre in India, where over 1,400 professionals are employed.
With its global expertise and industry solutions, Infosys will accelerate the bank’s digital agenda by enhancing its IT operations and capabilities, powered by Infosys Topaz, an AI-first set of services, solutions, and platforms, experience design, and services that support operations, it noted.
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Salil Parekh, Chief Executive Officer and Managing Director, Infosys, said, “We are delighted to bring our rich experience in financial services transformation to work for Danske Bank and help the bank accelerate its strategic growth agenda. Infosys will collaborate with Danske Bank to strengthen its core business with greater digital, cloud, and data capabilities. This will help Danske Bank create more value for their customers using powerful advances in AI, including generative AI.”
Infosys expects the transactions to be completed before Q2 FY24, subject to customary closing conditions.
Headquartered in Denmark, Danske Bank provides banking services to personal and business customers, as well as large corporate and institutional customers. In a bid to accelerate the bank’s technology transformation, optimise its access to talent and capabilities and improve productivity, Danske Bank chose Infosys as its strategic partner.
Frans Woelders, Chief Operating Officer, Danske Bank, said, “Infosys has the tools, experience, and expertise to support us in accelerating our transformation using Cloud and AI technologies. Given Infosys’ global presence and scale, this collaboration will also give us access to wider talent pools and capabilities.”
Published on June 26, 2023
