Infosys will power digital drive at Metro Bank

The collaboration will utilise Infosys Topaz, the firm’s AI-first offerings, to enhance Metro Bank’s digital capabilities, improve automation and refine data

• Eastern Eye
• 18 September, 2024

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By: Eastern Eye

INDIAN IT major Infosys on Tuesday (17) said that it has entered into a long-term collaboration with the UK’s Metro Bank to digitise its operations.

The collaboration will utilise Infosys Topaz, the firm’s AI-first offerings, to enhance Metro Bank’s digital capabilities, improve automation, refine data, as well as embed further AI capabilities.

This will assist the bank in increasing efficiency and saving costs, a regulatory filing said.

“At the end of this transformation, we will be a very different business, but the true essence of Metro Bank will remain the same – a high-quality service organisation putting customers centrestage,” Metro Bank CEO Daniel Frumkin said.

The bank expects to deliver £80 million of cost savings this year across multiple initiatives, as it aims for a mid-to-high teen return on tangible equity by 2027, he added.

“Our shared goal is to continually enhance customer engagement, community focus, and the integration of physical and digital experiences, thereby accelerating growth and value creation for Metro Bank,” said Dennis Gada, EVP and global head of banking and financial services, Infosys.