Infosys Signs $454 Million Deal With Denmark-Based Danske Bank

Information Technology services firm Infosys announced on Monday that it has entered into a strategic partnership with Danske Bank to accelerate the bank's digital transformation initiatives.

A global IT services provider, Infosys serves clients in over 50 countries and has over four decade experience in the sector.

The deal is estimated to be worth USD 454 million for a period of five years with an option to renew for one additional year for a maximum of three times.

With this collaboration, Danske Bank will be able to achieve its strategic priorities towards "better customer experiences, operational excellence, and a modernised technology landscape, powered by next-gen solutions", a statement from Infosys said.

Danske Bank has its headquarters in Denmark and provides banking services to personal, large corporate and institutional customers.

With this deal, Infosys will acquire Danske Bank's IT centre in India which employs 1,400 professionals.

The statement said, "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."

The Nordic region is a strategic market for Infosys and this collaboration will help to further enhance its commitment to the region.

The Chief Operating Officer of Danske Bank, Frans Woelders said, "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."

Meanwhile, Salil Parekh, the Chief Executive Officer 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."

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