Infosys Secures $454 Million Digital Transformation Deal with Danske Bank

Infosys, a prominent Indian IT company, has secured a substantial digital transformation contract valued at $454 million from Danske Bank, a Nordic-based financial institution. This five-year agreement includes the acquisition of Danske Bank's IT center in Bengaluru, employing 1,400 professionals.

The contract also offers the possibility of a three-year extension, reflecting the bank's commitment to expedite digital transformation. It enriches customer experiences through technology modernization. The partnership between Infosys and Danske Bank is set to drive significant advancements in the banking sector's digital capabilities and deliver enhanced services to customers.

This announcement follows TCS’s recent $1.9 billion deal with UK pension scheme NEST to drive digital transformation in its scheme administration services. Last month, Infosys secured a five-year, $1.5 billion deal from global energy company BP; marking its largest contract win in the past three years.

Infosys will utilize its AI-first services, solutions, and platforms called Infosys Topaz. It will support Danske Bank’s digital agenda and strengthen its IT operations and capabilities. The collaboration will focus on leveraging advancements in artificial intelligence. Furthermore, It includes generative AI, to deliver enhanced value for Danske Bank’s customers.

The acquisition of Danske Bank’s IT center in Bengaluru. It is the first of its kind since the Silicon Valley Bank crisis earlier this year; presenting Indian IT companies with opportunities to acquire technology units of banking and financial firms. Consequently, This move underscores Infosys’ commitment to expanding its digital capabilities and bolstering its presence in the banking sector.