Danske Bank partners with Infosys for digital leap, enhancing tech capabilities

Infosys, a pioneering global provider of next-generation digital services and consulting, announced that it has entered into a strategic partnership with Danske Bank under a deal worth $454 million for a period of five years with an option to renew for an additional year for a maximum of three times.

A leading institution in the Nordic region, Danske Bank aims to fast-track its digital transformation initiatives through this collaboration, setting its sights on enhanced customer experiences, operational excellence, and a technologically advanced landscape powered by innovative solutions.

Frans Woelders — Danske Bank Chief Operating Officer said: “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.”

With its headquarters in Denmark, Danske Bank serves a wide range of customers, from personal and business clients to large corporations and institutional patrons. To accelerate its technology transformation, enhance productivity, and secure improved access to both talent and capabilities, Danske Bank has selected Infosys as its strategic partner.

An integral part of this collaboration is the acquisition of Danske Bank’s IT center in India by Infosys. The center currently employs more than 1,400 professionals. Utilizing its global expertise and industry-specific solutions, Infosys will boost the bank’s digital agenda, significantly improving their IT operations and capabilities. These enhancements will be powered by Infosys Topaz, an AI-first array of services, solutions, and platforms, as well as by experience design and services supporting operations.

The company has expressed its eagerness to welcome the Danske India employees who will join the Infosys team as part of this new venture.

Salil Parekh — Infosys CEO and Managing Director said: “We are delighted to bring our rich experience in financial services transformation to work for Danske Bank and help the bank accelerate its strategic growth agenda.

“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 Nordics region is a strategic market for Infosys. This collaboration with Danske Bank further demonstrates the company’s commitment to the region. Previously, Infosys has acquired BASE Life Science in Denmark, Fluido in Finland, and recently inaugurated new proximity centers in Gothenburg, Sweden and Oslo, Norway. This partnership with Danske Bank is yet another significant step in enhancing Infosys’ localization strategy in the Nordics.

Subject to customary closing conditions, Infosys anticipates the completion of the transactions before Q2 FY2024.