TCS expands partnership with DNB Bank for 5 more years to drive banking innovation

Tata Consultancy Services (TCS) announced that it had extended its partnership with DNB Bank ASA for an additional five years to power next-generation banking innovation.

This extension built on a longstanding and successful collaboration, paving the way for continued growth and innovation.

Under the renewed partnership, TCS continued as DNB's strategic partner, supporting the banks digital modernization journey while enhancing cost efficiency targets.

Additionally, TCS deployed next-generation technologies for DNBs modernization initiatives, maintaining and developing new applications, strengthening security capabilities, and providing insights into emerging technologies such as AI and quantum computing.

Elin Sandnes, Group EVP of Technology & Services, DNB, said, We are very pleased with the decision to continue our partnership with TCS for an additional five years. We already have a longstanding and proven relationship where TCS has helped enable some of our biggest transformations and innovations over the past twelve years. We look forward to seeing what we can achieve together in the future.

Shankar Narayanan, President, Banking & Financial Services, TCS, said, We look forward to entering an exciting new chapter in our collaboration with DNB. We are always looking for new ways to equip DNB in their efforts to be Norways most innovative bank, and we are pleased to be given the opportunity to continue to do so through the extended partnership.

TCS is an IT services, consulting, and business solutions organization. It offers a consulting-led, cognitive-powered, integrated portfolio of business, technology, and engineering services and solutions.

The company reported a 3.95% increase in consolidated net profit to Rs 12,380 crore in Q3 FY25 as compared with Rs 11,909 crore in Q2 FY25. Revenue from operations fell 0.45% QoQ to Rs 63,973 crore during the quarter.

Shares of Tata Consultancy Services fell 3.46% to Rs 3,487.25 on the BSE.

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