Information technology giant Infosys has partnered with Nordic lender Danske Bank to accelerate the bank’s digital transformation. The deal is valued at $454 million (₹3,720 crore) over five years, with an option to renew up to three times.
What Happened? Infosys will acquire Danske Bank’s Indian IT center, employing over 1,400 professionals. Leveraging advanced solutions like Infosys Topaz, an AI-first suite, Infosys will strengthen the bank’s IT operations and capabilities.
Danske Bank, based in Denmark, offers banking services to personal, business, and institutional customers. The collaboration with Infosys aims to enhance customer experiences, drive operational excellence, and modernise technology.
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Frans Woelders, COO of Danske Bank, highlighted the collaboration’s importance in achieving its digital goals. The partnership will leverage cloud and AI technologies as well as access to a larger talent pool to accelerate the transformation and improve customer experiences.
“Infosys will collaborate with Danske Bank to strengthen their core business with greater digital, cloud and data capabilities,” said Salil Parekh, CEO of Infosys. “This will help Danske Bank create more value for their customers using powerful advances in AI, including generative AI.”
Completion of the transactions is expected before Q2’FY2024, subject to customary closing conditions.
The deal comes weeks after Sweden's Ikano Bank last month chose Tata Consultancy Services (TCS) software-as-a-service global banking platform to streamline its fragmented core banking operations and accelerate the launch of new financial services.
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