Infosys and Metro Bank Join Forces for Digital Transformation

18 Sep 2024 , 12:44 PM

Infosys has formed a long-term partnership with Metro Bank to optimize its IT and support functions, while driving digital transformation in its business operations.

This collaboration aims to boost Metro Bank’s ongoing initiatives focused on improving efficiency and reducing costs. Metro Bank will leverage Infosys’ expertise to enhance digital capabilities, streamline automation, improve data management, and incorporate AI advancements into its operations.

Infosys’ experience will support Metro Bank in becoming a more agile organization, setting the stage for future growth, as stated in an official filing.

Daniel Frumkin, Metro Bank CEO, highlighted that the collaboration will unlock the bank’s potential, creating a scalable and profitable organization while maintaining its customer-first approach.

Metro Bank expects to achieve £80 million in annualized cost savings across various initiatives by the end of the year. The bank is targeting a mid-to-high teen Return on Tangible Equity (RoTE) by 2027.

Dennis Gada, EVP at Infosys, emphasized that Metro Bank’s strategic vision combined with Infosys’ global banking expertise will create value and help establish a top-tier, customer-focused bank. The partnership aims to solidify Metro Bank’s position as a future-ready financial services provider.