India’s IT giant Tata Consultancy Services (TCS) has bagged a six-year managed services contract from Norway’s largest financial group DNB to drive the company’s strategic transformation by leveraging Information Technology (IT).

The contract includes delivery of application maintenance and development services across DNB’s IT portfolio, spanning channels, core-banking and master data areas.

DNB said that the partnership will lead to increased stability in IT operations, high degree of efficiency and easy access to competencies and skills across the entire IT area, which spans various technologies used in DNB’s business units.

“It was important for DNB to select the right long term partnership as this directly impacts how we deliver future solutions to our customers. In TCS we have found the capabilities and experience that we were looking for,” said Liv Fiksdahl, Head of IT & Operations in DNB.

“The financial services sector is heavily impacted by the confluence of technology, evolution of regulatory requirements and change in customer behavior.  We see DNB being on the fore-front of driving the actual execution that this new environment requires and are committed to working with them in their transformational journey towards becoming Europe’s most efficient digital bank,” said Amit Bajaj, Head of TCS North Europe.

Present in the Nordic region since 1991, TCS has continuously invested in the market locally to deliver consistent results to its customers. TCS’ Nordic operations comprise over 5500 professionals working across Sweden, Finland, Norway, Denmark and Iceland, servicing leading Nordic companies. Its scale of operations has doubled since 2010 in the region with significant increase in local hiring. TCS had been selected as the Nordic leader in Customer satisfaction across various surveys for the fourth consecutive year.