Infosys and Metro Bank Partner to Revolutionize Banking Operations with AI

Indian IT firm Infosys entered a long-term collaboration with Metro Bank to digitize operations using its AI-first offerings, Infosys Topaz. The partnership aims to enhance digital capabilities, improve automation, and drive efficiency. The initiative is expected to save Metro Bank millions annually and boost its ROI by 2027.

Indian IT major Infosys has announced a long-term collaboration with British community bank Metro Bank aimed at digitizing the bank's operations.

The partnership will leverage Infosys Topaz, an AI-first offering, to enhance Metro Bank's digital capabilities, improve automation, refine data, and integrate further AI functionalities.

This strategic move is expected to boost efficiency and result in significant cost savings, according to a regulatory filing. ''This transformation will turn us into a different business, but Metro Bank's core value of high-quality service will remain,'' said Metro Bank CEO Daniel Frumkin.

The bank anticipates delivering annual cost savings of 80 million pounds this year as it moves toward a mid-to-high teen return on tangible equity by 2027. ''Our goal is to continually enhance customer engagement, community focus, and integrate physical and digital experiences,'' Dennis Gada, EVP and Global Head of Banking and Financial Services at Infosys, added.

Infosys shares were trading at Rs 1,951 apiece on the BSE on Tuesday.

(With inputs from agencies.)