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Indian IT Services Co. HCL Wins USD 400 Million Contract from DNB Bank

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Published on : May 13, 2014

HCL Technologies, a leading India-based IT services firm has won a seven-year contract from Norwegian lender DNB Bank ASA. As part of the contract, HCL will manage the IT applications operations as well as all IT infrastructure services globally. The contract is reportedly worth USD 400 million, according to a news report published in Business Line.

Hitherto, DNB Bank’s technological infrastructure was being maintained by Evry ASA, a local IT services firm. After the new contract being signed, DNB will migrate from Evry to HCL over an 18-month transition phase. This deal is being touted as the largest in fiscal 2014 for HCL. Following this multi-million dollar agreement, HCL has also said that it has two data centers in Norway on the cards.

As per the terms of this mega deal between HCL and DNB, the former will offer IT support to over 2.5 million retail customers that are served by DNB. In addition to retail customers, other end-users of the Norwegian firm will also receive IT support from HCL.

The deal was finalized after some serious consideration of other IT services providers in the global market. This deal has been brought into effect to render better operational stability and cost reduction to DNB. At the same time, the agreement will see HCL offering services that ensure a stronger application framework for the lending services provider. According to a statement from HCL, the company’s focus will also be on a higher quality of service as well as innovativeness.

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