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Old National Bank and Infosys Forge Digital Transformation Partnership

Posted On: 2020-07-10 21:21:26


Old National Bancorp (NASDAQ: ONB), the largest financial services bank holding company headquartered in Indiana, and Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, today announced a strategic partnership that will enable faster adoption of digital solutions, modernize ONB's existing technology infrastructure, and enhance both the client and employee experience.

Infosys will provide best-in-class digital solutions to help transform Old National Bank's technology landscape. The technology enhancement will drive digital transformation and innovation, and provide advanced automation capabilities to increase speed to market and deliver a consistent and superior "ONB experience." This approach aligns with Old National Bank's key objective of becoming a topperforming independent bank, accelerating growth in commercial banking, deepening relationships by offering a distinctive client-centric value proposition. The partnership will further streamline Old National Bank's operating model, and simplify client-facing and internal processes.

Dennis Gada, Senior Vice President, Head of Financial Services North America, Infosys, said, "We are delighted to partner with Old National Bank. Through the partnership, Infosys will help Old National digitally transform itself with a focus on achieving greater operational efficiency, fostering innovation, and providing improved services for clients and the larger community."

Jim Ryan, Chairman and Chief Executive Officer, Old National Bancorp, said, "Partnering with Infosys, one of the world's foremost information technology companies, allows Old National to build a state-of-the-art technology platform with sophisticated and advanced capabilities. This will enable us to provide differentiated solutions and utlimately enhance the client experience."

Infosys has committed to hiring American workers in Indiana to deliver digital futures for Infosys' clients in the U.S. Infosys continues to help create the next generation of talent through partnerships with Purdue University and other academic partnerships in Indiana. The Old National Bank partnership will further cement Infosys' local presence in Indiana with access to training and learning opportunities in Indianapolis.

Indiana Governor Eric Holcomb said, "Old National Bank and Infosys are leaders in Indiana's thriving business and tech landscape, and this continued investment and innovation further cements their commitment to our communities. Through this technology and training partnership, Hoosiers will have a new opportunity to develop skills and grow their careers in our great state."

Shares of INFOSYS LTD. was last trading in BSE at Rs.781.8 as compared to the previous close of Rs. 781.55. The total number of shares traded during the day was 220696 in over 5293 trades.

The stock hit an intraday high of Rs. 789.35 and intraday low of 772. The net turnover during the day was Rs. 172707971.


Source: Equity Bulls

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