Infosys Lands $454 Million Digital Transformation Deal with Danske Bank for Five Years

26 Jun 2023 , 11:05 AM

Infosys, an IT services company, has won a $454-million deal for the digital transformation of Denmark’s Danske Bank amid a slowdown in the sector.

The collaboration between Infosys and Danske Bank aims to strengthen the bank’s core business through enhanced digital, cloud, and data capabilities, leveraging advancements in AI, including generative AI, according to Infosys CEO Salil Parekh.

The deal has a duration of five years and has the potential to reach $900 million, with the possibility of renewal for an additional three years, as stated in an exchange filing by Infosys.

Infosys emerged victorious over Accenture in securing the Danske deal, which also includes the acquisition of Danske Bank’s IT center in Bengaluru, employing 1,400 people.

This announcement follows TCS bagging a $1.1 billion deal from the UK’s NEST and further establishes the trend of IT services companies securing significant contracts. Danske Bank expressed that the collaboration with Infosys will assist in achieving its strategic priorities concerning customer experience and operational excellence.

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