Infosys wins contract of Danske Bank, will acquire bank's Indian IT centers

Indian IT giant Infosys announced on Monday that it has signed a strategic collaboration with Nordic bank Danske Bank to accelerate the latter’s digital transformation initiatives with speed and scale. 

The company noted in a release that the collaboration will help Danske Bank achieve its strategic priorities towards better customer experiences, operational excellence, and a modernized technology landscape, powered by next-gen solutions.

Salil Parekh, the CEO and Managing Director of 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.”

The company also noted in a release that as part of this collaboration, Infosys will also acquire Danske Bank’s IT center in India, where over 1,400 professionals are employed. 

Frans Woelders, Chief Operating Officer of Danske Bank, said in a statement, “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.”

“We have a strong starting point, and we want to further accelerate our digital and technology transformation. 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,” the COO of the Nordic Bank added.

The IT major expects the transactions to be completed before Q2 of FY2024, subject to customary closing conditions.

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