Infosys enters into USD 454 mln deal with Denmark-based Danske Bank
Jun 26, 2023
New Delhi [India], June 26 : IT services firm Infosys on Monday announced it was selected by Danske Bank as a strategic partner to accelerate the bank's digital transformation initiatives.
Infosys, a global IT services leader, serves clients in over 50 countries and has over-four decade of experience in the sector.
The estimated value of the deal is USD 454 million for a period of five 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", Infosys said in a release.
Danske Bank is headquartered in Denmark and provides banking services to personal, large corporate and institutional customers.
Infosys will also acquire Danske Bank's IT center in India, where over 1,400 professionals are employed as part of this collaboration.
"With its global expertise and industry-solutions, Infosys will accelerate the bank's digital agenda by significantly enhancing their IT operations and capabilities, powered by Infosys Topaz, an AI-first set of services, solutions and platforms, experience design, and services that support operations."
Nordics region is a strategic market for Infosys and this collaboration will further enhance its commitment to the region.
"We have conducted a thorough process to find a partner that can help us achieve that. 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," said Frans Woelders, Chief Operating Officer, Danske Bank.
According to Salil Parekh, Chief Executive Officer and Managing Director, Infosys, "Infosys will collaborate with Danske Bank to strengthen their 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."
