IT services firms bag digital transformation contracts despite slowdown in client spending

HCLTech on Friday announced that it has expanded its relationship with ANZ, one of Australia’s four largest banks, to transform its digital employee experience across 33 countries.
HCL Technologies (File Photo | Reuters)
HCL Technologies (File Photo | Reuters)

BENGALURU: Many IT services firms have bagged digital transformation contracts from various clients in September alone. HCLTech on Friday announced that it has expanded its relationship with ANZ, one of Australia’s four largest banks, to transform its digital employee experience across 33 countries. By leveraging next-generation technologies including extended reality, GenAI and IoT-powered workspaces, HCLTech will support ANZ's next stage of digital transformation.

Recently, the company signed a multi-year managed public cloud services agreement with Siemens to modernise its IT landscape and power cloud-led digital transformation.

On Thursday, Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, and Nigeria’s Guaranty Trust Bank (GTBank), the banking subsidiary of Guaranty Trust Holding Company, announced that Guaranty Trust Bank has selected the Finacle Digital Banking Suite for its multi-country digital transformation programme.

Earlier, Infosys announced a strategic multi-year collaboration with STARK Group, Europe’s largest retailer and distributor of building materials, to power its digital transformation journey leveraging the recently launched Infosys Topaz, an AI-first set of services, solutions and platforms using generative AI technologies.

Without mentioning the name of the company, the second-largest software services exporter last week said it signed a $1.5 billion contract for a 15-year period with a global company.

Infosys will provide enhanced digital experiences and business operation services, leveraging the company's platforms and AI solutions, it said.

These contracts are being won amid a slowdown in client spending.

On Thursday, the country's largest IT services company Tata Consultancy Services announced that it helped Kingfisher plc, a leading European multinational home improvement company, to drive seamless customer experiences using TCS OmniStore, an AI powered unified commerce platform.

TCS also announced that it has entered into a strategic partnership with BankID BankAxept AS, Norway’s national payment and electronic identity systems, to set up and manage an operations command centre that will enhance the resilience, security and availability of the country’s critical financial infrastructure.

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