 "Infosys inks $454 mn deal with Danske Bank; to acquire its India IT centre")
Infosys on Monday signed a deal with leading Nordic lender Danske Bank to help it accelerate its digital transformation initiatives, and create more value for its customers using artificial intelligence (AI). The five-year deal is estimated at $454 million, or about Rs 3,720 crore, and can be renewed for one additional year up to three times. Headquartered in Denmark, Danske Bank provides banking services to personal and business customers, as well as large corporate and institutional clients.
As part of this collaboration, Infosys will also acquire Danske Bank’s IT centre in India for DKK 13.6 million (about $2 million), where over 1,400 professionals are employed. Incorporated in 2012, and headquartered in Bengaluru, Danske IT and Support Services India Private Limited (DIT), is a wholly-owned subsidiary of Danske Bank.
Infosys said it would accelerate the bank’s digital agenda by significantly enhancing its IT operations and capabilities, powered by Infosys Topaz, an AI-first set of services, solutions and platforms built on generative AI.
Infosys will collaborate with Danske Bank to strengthen their core business with greater digital, cloud and data capabilities, said Salil Parekh, chief executive officer and managing director, Infosys. “This will help Danske Bank create more value for their customers using powerful advances in AI, including generative AI.”
The collaboration will help Danske Bank achieve its priorities, such as better customer experience, and a modernised technology landscape, powered by next-gen solutions, Infosys added.
IT bellwether Tata Consultancy Services had last week bagged a $1.9 billion deal from UK pension trust National Employment Savings Trust to digitally transform its administration services.
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Infosys, too, had last month won a $1.5 billion five-year deal from global energy giant BP.
The Nordic region is a strategic market for Infosys, and this collaboration is expected to further strengthen its localisation strategy in the region. Infosys acquired BASE Life Science in Denmark in 2022 and Fluido in Finland in 2018 and recently opened a new proximity centre in Gothenburg, Sweden and Oslo, Norway.
Frans Woelders, chief operating officer of Danske Bank, said the company’s Forward ’28 strategy “sets clear ambitions for Danske Bank to be a leading bank in a digital age”.
“This is backed by significant investments in digitalisation and technology, including plans to further develop our customer-facing digital solutions, and modernising our technology infrastructure to enable even better customer experiences and drive operational efficiency. We have a strong starting point, and we want to further accelerate our digital and technology transformation,” Woelders added.