A strategic partnership between Nordic bank Danske Bank and Indian IT giant Infosys was unveiled on Monday in order to swiftly and significantly advance the latter's digital transformation objectives.

According to a press statement from the business, the partnership will assist Danske Bank in achieving its strategic goals of improved client experiences, operational excellence, and a modernised IT environment powered by next-generation technologies.

Salil Parekh, the CEO and Managing Director of Infosys, said, “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.”

In a press release, the business also stated that as a result of this partnership, Infosys would also purchase Danske Bank's Indian IT centre, which employs over 1,400 people.

Frans Woelders, Chief Operating Officer of Danske Bank, said in a statement, “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,” the COO of the Nordic Bank added.

The IT industry leader anticipates the transactions to close before Q2 of FY2024, barring any unforeseen closing conditions.