HCL Technologies signs $400 mln contract with Norway’s DNB Bank

NEW DELHI: HCL Technologies said it has won a $400 million deal from Norway’s DNB Bank ASA to manage its information technology and infrastructure services and application operations in Norway and some other locations.

As part of the deal, HCL Technologies will create two new data centres in Norway by migrating and transforming DNB’s systems and infrastructure from its existing IT partner. These will serve the bank’s 2.5 million retail banking customers and end-users of all its products, the Noida-based company said in a statement.

DNB is Norway's largest financial services group and one of the largest in the Nordic region in terms of market capitalization. The group offers financial services including loans, savings, advisory services, insurance and pension products for retail and corporate customers.

“Leading global banks are looking for ways to improve their mission-critical IT operations to deliver world-class customer service in an increasingly complex technology, regulatory and cost-conscious environment. HCL will deploy its “Enterprise of the Future (EoF) framework” to enable DNB to not only transform its IT infrastructure but also mature IT operations,” said Ashish Gupta, head of EMEA at HCL Technologies, Infrastructure Services Division.

Indian software services companies such as HCL Technologies, Infosys, TCS and Wipro are increasing their investments in the Nordic region as they see it as the next big IT market within Europe. These companies have been building software delivery centers and hiring locals to win contracts from local governments and companies in this region.

Infosys signed a software application development contract with Sweden-based auto major Volvo in March, and recently told ET it may look at acquisitions in the Nordic countries. TCS and Wipro have also raised their investments in the region over the past year.