Infosys wins Dankse Bank's contract worth $454 million; to acquire bank's Indian IT centres

Indian IT giant Infosys has signed a deal for the digital transformation of Denmark based Danske Bank that is worth $454-million. This comes a week after TCS announced it was acquiring a $1.1 billion deal from UK's NEST.

Infosys in its exchange filing has said that, the deal is for a period of 5 years and that it could be ramped up to $ 900 million. The filing also mentions that the contract could be renewed for up to another 3 years. 

The company has said 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.

“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", said Infosys CEO and Managing Director Salil Parekh. 

The IT company also said that it will acquire Dankske Bank's IT centres that operate in India. Currently the bank's IT centre employs over 1,400 professionals. 

Meanwhile, the Chief Operating Officer of Dankske Bank Frans Woelders has said that Infosys has the tools, experience, and expertise to support the bank in its digital transformation. 

“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”, said Frans Woelders.