You are here: Home » News-ANI » Business
Business Standard

Infosys buys 75% stake in ABN AMRO's mortgage services arm

ANI 

IT said on Thursday that it will acquire 75 per cent of the shareholding in Stater NV, a wholly-owned subsidiary of Bank, that offers end-to-end in the Netherlands, and

"This transaction strengthens our approach to offer clients digital platforms and industry focused solutions," said Presiden "It brings together our complementary capabilities to enhance the value we offer to our clients and enhance our presence in "

Stater is a market leader in the region, operating across the mortgage and with capabilities in digital origination, servicing and collection. It services 1.7 million mortgage and for about 50 clients in The and

Stater also brings deep European mortgage expertise and a robust digital platform to drive customer experience. will drive the digital transformation roadmap of Stater with accelerators such as dynamic workflow, API layers, RPA and analytics.

The current management team of Stater will continue to steer the company. The transaction is expected to close during the first quarter of fiscal 2020, subject to customary closing conditions.

is a focus area for large corporations in the financial sector, given the importance of the asset on a bank's balance sheet.

The specialised knowledge and experience of Stater in the market, combined with the global reach, AI, digital transformation and automation capabilities of Infosys, can potentially create differentiated solutions for the market.

"This partnership strengthens Infosys' position as a leading technology and process management provider across the value chain, improving experience and operational efficiencies, and further enhances the company's strategy to help clients navigate their next digital transformation journeys," Infosys said in a statement.

Christian Bornfeld, of ABN AMRO, said: "While mortgages are a key product for ABN AMRO, providing administrative mortgage services is not a core activity. That's why we are very pleased with Infosys as Stater's new will keep a strategic interest of 25 per cent and will continue to be an important client to Stater.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, March 28 2019. 14:19 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU