DNB Bank Selects Infosys for Application Transformation Programme

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Dec 10, 2015, 05:39 ET

BANGALORE, December 10, 2015 /PRNewswire/ --

AiKiDo Framework to be Applied in the Five-Year Deal With Norway's Largest Financial Services Group

Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has won a contract to transform the application landscape of DNB Bank of Norway. Applying its AiKiDo framework, Infosys will leverage knowledge-based non-disruptive renewal strategies to evolve DNB Bank's entire data cluster, including business intelligence (BI), analytics, data warehousing services, regulatory reporting, and Enterprise Resource Planning (ERP) functions.

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Infosys will be the bank's exclusive partner for the development and maintenance of over 64 applications across 14 different technology platforms over the next five years. Infosys will deliver efficiencies in IT operations and data processing and set up offshore support services, including test data management and service virtualization.

Infosys will also apply Design Thinking, as part of the AiKiDo framework, to all the new development initiatives within DNB Bank's data cluster to help the bank expand and unlock value from new products, services and initiatives. Such innovations are key to maintaining competitiveness in the financial services market, and to keeping pace with regulatory and reporting requirements.

Quotes:

Liv Fiksdahl, Group Executive Vice President for IT and Operations, DNB Bank

"As one of the largest financial services providers in the region, DNB Bank has made substantial development and efficiency improvements. It needs an IT partner with ambitious creative thinking that is capable of meeting the demands of a growing business. Working with Infosys gives us access to cutting-edge services and technologies, innovative thinking and problem-solving. This will be key to assisting us in meeting our business objectives, as well as ensuring we keep pace with the changing global financial services landscape."

Mohit Joshi, Executive Vice President and Global Head for Financial Services, Infosys

"We are fully committed to the success of DNB Bank. From the outset, we worked closely with the client's senior executives to create a non-disruptive transformation plan for DNB Bank. By leveraging the Infosys AiKiDo framework, we demonstrated how in addition to renewal, the bank could benefit from discovering ways to unlock value from new services and business models."

To learn more about how Infosys works with leading financial services organisations to deliver IT management and deliver transformative solutions, please visit

http://www.infosys.com/industries/financial-services/.

About DNB Bank:

DNB Bank is Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalisation. It offers a full range of financial services, including loans, savings, advisory services, insurance and pension products for retail and corporate customers. DNB Bank is also one of the world's leading shipping banks and has a strong position in the energy sector, and the fisheries and seafood industry. The bank is present in 20 countries worldwide and has some 150 branch offices in Norway alone.

About Infosys:

Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.

Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.7 billion in annual revenues and 187,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.

Safe Harbor

Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.

SOURCE Infosys