Infosys and AIB Extend Strategic Collaboration for Digital Transformation

Rhea-AI Summary

Infosys (NYSE: INFY) has announced an extension of its strategic collaboration with AIB, a major financial services group in Ireland and the UK. This expanded partnership builds on their existing 10-year relationship, with Infosys taking on an enhanced role in AIB's digital transformation initiatives.

The collaboration focuses on application development, maintenance, and support services, leveraging Infosys' expertise in agile practices and AI-powered tooling. The partnership aims to increase AIB's operational efficiency and enhance agile processes to expedite innovation.

The extended collaboration will support AIB's vision to modernize its technology and data capabilities, focusing on delivering optimal customer outcomes while strengthening operational efficiency and resilience. Infosys will utilize its global digital engineering teams to enable AIB's business and technology transformation, positioning the bank competitively in the evolving banking landscape.

Positive

• Extension of long-term strategic partnership with major financial institution AIB
• Expansion of service scope in application development and maintenance
• Implementation of AI-powered tooling and agile practices
• Strengthening Infosys' presence in the Irish market

Negative

• None.

Insights

Financial Services IT Consultant

This extension of Infosys's decade-long partnership with AIB represents significant client retention in the competitive financial services IT market. Long-term contracts like these form the backbone of predictable revenue streams for IT service providers, with banking remaining a critical vertical for Infosys's business model.

The expanded scope covering application development, maintenance, and support services leveraging AI-powered tooling aligns perfectly with the banking sector's current priorities. Financial institutions globally are under pressure to modernize legacy systems while simultaneously improving operational efficiency - exactly what this partnership targets.

What's particularly notable is AIB explicitly mentioning the combined use of human expertise alongside AI tooling, reflecting the hybrid approach most banks are adopting rather than full automation. This positions Infosys well as financial institutions increasingly seek partners who can balance technological innovation with practical implementation expertise.

While financial details remain undisclosed, the partnership's renewal after 10 years signals strong delivery performance by Infosys. In the IT services sector, where client acquisition costs are substantial, relationship extensions like this one typically indicate healthy margins and operational synergies that benefit both parties.

This collaboration strengthens Infosys's footprint in Ireland and the broader European banking market at a time when regional banks are accelerating digital initiatives to compete with fintech disruptors. For investors, such strategic contracts demonstrate Infosys's ability to maintain and expand high-value client relationships in its core banking vertical.

To deliver application development, testing, and support services

BENGALURU, India and DUBLIN, April 9, 2025 /PRNewswire/ -- Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced it is extending its strategic collaboration with AIB, a financial services group operating predominantly in the Republic of Ireland and the UK. Building further on its 10-year relationship, Infosys will take on a renewed and expanded role to support AIB as it further accelerates its transformation initiatives and delivers support and value to its customers and stakeholders.

Infosys will help further develop AIB's application landscape and deliver application development and maintenance services, underpinned by deep human expertise, agile practices and AI powered tooling. Through these efforts, AIB will benefit from increased operational efficiency, and continue to enhance and mature agile processes that expedite innovation.

Graham Fagan, Group Chief Technology Officer, AIB, said, "This extended collaboration with Infosys aligns strongly with our vision to progressively modernise our technology and data capabilities to deliver the best outcomes for our customers and further accelerate our transformation. By combining our collective expertise and experience, we will deliver on our customer-first commitment and enhance operational efficiency and resilience. Infosys has been a trusted innovation partner, and we are excited about this next chapter in our collaboration as we work together to ensure AIB remains at the forefront of digital transformation in the Irish banking industry."

Dennis Gada, Executive Vice President and Global Head of Banking & Financial Services, Infosys, said, "Our expanded collaboration with AIB marks a significant milestone in Infosys' journey in Ireland. By leveraging our global digital engineering teams and proven track record in delivery and innovation, we will enable AIB to continue to accelerate their business and technology transformation, strongly positioning them for success in a rapidly evolving banking environment. We are committed to fostering a strong relationship, nurturing talent, and contributing to Ireland's thriving tech ecosystem, while delivering impactful outcomes for AIB."

About AIB Group

AIB is a financial services group serving 3.35 million customers predominantly in Ireland and the United Kingdom. Our main business activities are retail, business and corporate banking, as well as mobile payments and card acquiring. Whether it's adapting to a greener way of living, planning for the future, growing a business or simply navigating day-to-day life, AIB's purpose is empowering people to build a sustainable future. AIB's core segments are: Retail Banking, Capital Markets, Climate Capital and AIB UK.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses and communities. We enable clients in more than 56 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, as they navigate their digital transformation powered by cloud and AI. We enable them with an AI-first core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, or our future financial or operating performance, are forward-looking statements 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 or outcomes 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 the execution of our business strategy, increased competition for talent, our ability to attract and retain personnel, increase in wages, investments to reskill our employees, our ability to effectively implement a hybrid work model, economic uncertainties and geo-political situations, technological disruptions and innovations such as Generative AI, the complex and evolving regulatory landscape including immigration regulation changes, our ESG vision, our capital allocation policy and expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources, our corporate actions including acquisitions, and cybersecurity matters. Important factors that may cause actual results or outcomes to differ from those implied by the forward-looking statements are discussed in more detail in our US Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2024. 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. 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.

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SOURCE Infosys

FAQ

What is the scope of Infosys (INFY) extended collaboration with AIB?

Infosys will provide application development, maintenance, and support services, using AI-powered tooling and agile practices to enhance AIB's operational efficiency and innovation capabilities.

How long has Infosys (INFY) been collaborating with AIB before this extension?

Infosys has maintained a 10-year relationship with AIB before this extended collaboration announcement.

What are the main objectives of AIB's partnership with Infosys (INFY)?

The partnership aims to modernize AIB's technology and data capabilities, enhance customer outcomes, improve operational efficiency, and accelerate digital transformation.

How will this collaboration impact AIB's position in the Irish banking industry?

The partnership is designed to keep AIB at the forefront of digital transformation in Irish banking through enhanced technology capabilities and innovation.