Tata Consultancy Services (TCS) has renewed its partnership with Norway’s largest financial services group, DNB Bank ASA, for another five years. The extension strengthens their long-standing collaboration in digital transformation and technology innovation.
Continuing as a Strategic Technology Partner
Under the extended agreement, TCS will continue to support DNB’s digital modernization efforts while helping the bank improve cost efficiency. The Mumbai-based IT giant will play a crucial role in maintaining and developing new applications, enhancing cybersecurity, and leveraging advanced technologies such as artificial intelligence (AI) and quantum computing.
TCS and DNB’s 12-Year Collaboration
TCS has been a key technology partner for DNB for the past 12 years, contributing to several major digital initiatives. One of its notable contributions was the development and launch of DNB’s peer-to-peer mobile payment platform, which helped strengthen the bank’s position in Norway’s competitive digital payments market.
Additionally, TCS has played a vital role in enhancing DNB’s operational efficiency through its Machine First Delivery Model, which automates processes and improves productivity. This approach has led to higher customer and employee satisfaction.
Ongoing Support from India
TCS will continue to provide critical support services to DNB from its Sahyadri Park campus in Pune, India. This center will remain an essential hub for delivering IT services and solutions to the Norwegian bank.
Statements from Key Executives
Expressing confidence in the extended partnership, Elin Sandnes, Group EVP of Technology & Services at DNB, said:
“We are very pleased to extend our partnership with TCS for another five years. TCS has played a key role in some of our biggest transformations and innovations over the past twelve years.”
Shankar Narayanan, President of Banking & Financial Services at TCS, also shared his enthusiasm:
“We look forward to an exciting new chapter with DNB. Our focus remains on equipping DNB to be Norway’s most innovative bank, and we are pleased to continue supporting them.”
This renewed collaboration underscores TCS’s role as a trusted technology partner in the global banking sector, reaffirming its commitment to driving digital transformation for financial institutions worldwide.