Infosys on Monday announced that it has signed a strategic collaboration with Danske Bank to help accelerate the digital transformation of the bank with speed and scale. The deal value is $454 million for a period of 5 years with an option to renew for one additional year for a maximum of three times, Infosys said. As part of the deal, Infosys will also acquire Danske Bank’s IT center in India, where over 1,400 professionals are employed, it said in a regulatory filing. 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. Infosys Topaz is an AI-first set of services, solutions and platforms, experience design, and services that support operations.
“Our 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,” said Frans Woelders, Chief Operating Officer, Danske Bank. He added, “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.” Headquartered in Denmark, Danske Bank provides banking services to personal and business customers, as well as large corporate and institutional customers.
Meanwhile, Salil Parekh, Chief Executive Officer & Managing Director, Infosys, said, “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.”
“Infosys looks forward to welcoming Danske India employees joining our team as part of this journey,” he added. Infosys has acquired BASE Life Science in Denmark and Fluido in Finland, and recently opened a new proximity center in Gothenburg, Sweden and Oslo, Norway. The collaboration with Danske Bank has further enhanced Infosys’ localization strategy in the Nordics. Infosys expects the transactions to be completed before Q2’FY2024, subject to customary closing conditions, the company stated.