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Infosys Technologies said that it has won a five-year contract with Germany’s Commerzbank to remodel the bank’s investment banking IT architecture and optimize the bank’s IT processes .
The company will also evaluate a potential post trade processing utility, which would then focus on the clustering of trade processing platforms across various product types.
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 benefiting 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.
Infosys did not specify the deal size or how much the deal will add to the company’s revenue over five years.