banking

Infosys Technologies, which counts Bank of America, Royal Bank of Scotland and ABN Amro among its top customers, sees more
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opportunities emerge as these banks merge their business and technology systems in order to consolidate their operations and integrate better with the acquired entities.

For Infosys, which derives around 33% of its revenues from banking and financial services (BFSI) customers, consolidation among the top US and European banks is bringing new business, with some of these individual contracts worth around $500 million each, potentially.

“There are six integration projects we are currently looking at,” said Ashok Vemuri, senior vice-president and global head for banking and capital markets business at Infosys. “Fortunately, we have landed on the right side in most of these M&A developments,” he added without offering comments about any specific customers.

While BofA is in the process of integrating its systems with Merrill Lynch, RBS is attempting to consolidate its IT systems with ABN Amro. As these banks merge, they now face a mammoth task of integrating their software applications, consolidating
their data centres and other trading platforms into single entity, so that their customers are able to transact without facing any merger-related issues.