Author: Tronserve admin
Friday 30th July 2021 07:37 PM
Infosys Partners with ABN AMRO, Acquires Mortgage Administration Subsidiary For €127.5mn
Bengaluru-based digital services and consulting specialist Infosys has stated a strategic partnership with ABM AMRO, the Netherlands’ third-largest bank.
In its press release, Infosys said the strategic partnership will enable it to bind its position as a market-leading technology and business process management provider across the mortgage services supply chain, as well as optimizing operational efficiencies and bolstering its digital transformation services offering.
Infosys will take a 75% stake in ABN’s Stater NV subsidiary which offers end-to-end mortgage administration services in the Netherlands, Germany and Belgium, with the remaining 25% stake remaining under ABN.
The transaction sums to €127.5mn, subject to any changes prior to the deal’s closing.
"This transaction improves our approach to offer clients digital platforms and industry focused solutions,” said Mohit Joshi, President, Infosys, in the firm’s press release.
“It creates together our complementary capabilities to enhance the value we offer to our financial services clients. We are aroused to welcome Stater's talented team to the Infosys family, thereby enhancing our position in Europe.”
Erwin Dreuning, Managing Director of Stater, added:
"We are eager to welcome Infosys as a new shareholder. As they are presently active in mortgage administration services, Infosys offers specific experience.
“With the combined forces of ABN AMRO, Infosys and Stater ensures we have a solid basis to pursue our plans to for further development of our service offering. Furthermore, it opens up opportunities for us to grow and service other clients."
This article is originally posted businesschief.com