TCS Extends Strategic Partnership with Norway’s DNB Bank for Five More Years

28 Feb 2025 , 10:38 PM

Tata Consultancy Services (TCS) has expanded its partnership with DNB Bank ASA, Norway’s largest financial services group, for another five years. This renewal aims at further enhancing TCS’ posture as a strategic technology partner, helping DNB on its digital transformation and cost efficiency journey.

TCS will deliver innovative IT solutions and boost DNB’s technology and digital capabilities to modernize DNB’s banking processes. DNB is focusing on expanding its knowledge base and continuing to provide banking services seamlessly with the extension coming from TCS.

With AI and quantum computing are emerging, TCS will use it to facilitate DNB’s modernization process. The IT big part will be maintaining and growing the applications, so digital operations run efficiently at DNB. Enhancing cybersecurity measures will be one of the high priority efforts to protect DNB banking systems and customers data.

DNB has been a trusted technology partner for TCS for more than 12 years and has played a pivotal role in the bank’s major digital innovations.

The company played a key role in supporting the launch of DNB’s peer-to-peer mobile payment platform, making the bank a front-runner in Norway’s digital payments market.

TCS’s Machine First Delivery Model (MFDM™) has transformed DNB’s operational resilience, driving improvements in productivity, employee experience, and customer satisfaction.

The most critical IT support services to DNB will continue to be run out of TCS’s Sahyadri Park campus in Pune, India, thus ensuring continuity of service delivery. This renewal speaks volumes about DNB’s trust in TCS’s technology-led transformation and innovation in the banking sector.

According to Elin Sandnes, Group EVP of Technology & Services at DNB, “We are pleased to extend our collaboration, and TCS has been crucial to the bank’s digital transformation.”

TCS President, Banking & Financial Services, Shankar Narayanan said, “Cyber threats are an impending reality and this collaboration with DNB reiterates TCS’ commitment to equip the bank with innovative and cutting-edge technology solutions to further cement its leadership position in the financial services ecosystem in Norway.

This extension is a significant development in the TCS-DNB alliance, further establishing the two organizations hand-in-hand along paths of innovation and digital excellence in the domain of banking.