By 121 News
Chandigarh 23rd May:- Infosys (NYSE: INFY), a global leader in consulting, technology, outsourcing and next-generation services, today announced that it has won a five-year contract with Commerzbank, the second largest bank in Germany. As part of this agreement, Infosys will remodel the bank's investment banking IT architecture, optimize IT processes, and evaluate a potential Post-Trade Processing Utility. The Utility would then focus on the clustering of trade processing platforms across various product types.
The remodeling of its existing IT architecture provides an even closer alignment with the needs of its investment banking customers.
Stephan Müller, Group CIO, Commerzbank AG commented that we are continuously developing the IT at Commerzbank, also on a strategic level, focusing on digitalization of our processes. The collaboration with technology experts is essential for us to stay ahead of the curve in our markets.
Mohit Joshi, President and Global Head for Financial Services, Infosys said that financial institutions need every advantage in this hyper-competitive industry, and this partnership will be providing just that. Middle and back office utilities are the future of the financial services industry and this will be one of the first of its kind. Commerzbank is benefitting from the renewal and simplification of its current IT landscape, developing new and radical technologies, and is pursuing new business models to compete better in an increasingly regulated market.
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