Noida-based HCL Technologies on Wednesday won a seven-year contract worth $400 million (₹2,400 crore) from Norway-based banking firm DNB Bank ASA to manage the latter’s IT infrastructure services and application operations across the globe.
This is the biggest deal the Indian tech firm has got till now in 2013-14. HCL Tech follows July-June fiscal period.
Until now a local company in Norway called Evry ASA was handling DNB’s systems and infrastructure services. There will be a transition period of 18 months during which DNB will migrate to HCL’s systems from its existing IT partner. HCL will create two new data centres in Norway.
As per the deal, HCL Technologies will provide IT support to the bank’s 2.5 million retail banking customers and end-users across all DNB’s products, including retail and online banking, cards, insurance, capital markets, payments and finance.
“The agreement will help DNB improve operational stability, reduce cost and implement a strong application operations framework with better levels of service quality and innovation within the bank,” HCL said in a statement.
As the prime services provider, HCL will also be responsible for managing the operations and multiple vendors across the bank’s technology landscape.
“HCL has demonstrated expertise in undertaking significant transformations for large clients in the financial services industry and with its operations, we aim to deliver a first-class user experience to DNB’s users,” Liv Fiksdahl, Group Executive Vice-President and Chief Operating Officer, DNB Bank ASA, said.
HCL has had presence in the Nordic countries since 1999 and has 2,500 employees working for over 30 customers across Sweden, Norway, Finland and Denmark with offices in each of these countries.
According to analysts, not only HCL, but other Indian IT companies, including Tata Consultancy Services, Infosys and Wipro, are also looking at getting businesses from Nordic countries.
On the BSE, HCL closed the day at ₹1,320.70, down 4.54 per cent from the previous close.