TCS Extends Partnership with DNB Bank ASA by 5 Years to Power Next-Gen Banking Innovation

TCS will drive customer-centric innovation and leverage next-generation technologies, including AI and quantum computing for Norway’s largest bank

PRESS RELEASE

OSLO | MUMBAI, FEBRUARY 28, 2025: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions company, has extended its partnership with DNB Bank ASA, Norway’s largest financial services group, for an additional five years. This extension builds on a longstanding and successful collaboration, paving the way for continued growth and innovation.

Under the renewed partnership, TCS will continue as DNB's strategic partner, supporting the bank’s digital modernization journey while enhancing cost efficiency targets. In addition, TCS will deploy next-generation technology for DNB’s modernization initiatives by maintaining and developing new applications, strengthening security capabilities, and providing insights on next-generation technologies, including AI and quantum computing.

Elin Sandnes, Group EVP of Technology & Services, DNB, said, “We are very pleased with the decision to continue our partnership with TCS for an additional five years. We already have a longstanding and proven relationship where TCS has helped enable some of our biggest transformations and innovations over the past twelve years. We look forward to seeing what we can achieve together in the future.”

Over the past 12 years, TCS has partnered in DNB’s innovation and transformation journey, delivering a wide range of digital solutions. Key highlights include the development and launch of DNB’s peer-to-peer mobile payment solution and solidifying its position as a leader in the competitive mobile payments space. TCS has also developed a variety of digital products for DNB while maintaining secure and stable operations. TCS’ adoption of its Machine First^TM Delivery Model to automate DNB’s operations, has improved the banks operational resilience, employee and customer satisfaction while increasing productivity. TCS’ Sahyadri Park campus in Pune, India, will support critical services for the bank. 

Shankar Narayanan, President, Banking & Financial Services, TCS, said, “We look forward to entering an exciting new chapter in our collaboration with DNB. We are always looking for new ways to equip DNB in their efforts to be Norway’s most innovative bank and we are pleased to be given the opportunity to continue to do so through the extended partnership.”

TCS is a leading player in the Banking, Financial Services, and Insurance sector, partnering with top banks, leading insurance firms, prominent capital market entities, major investment banks, and wealth management companies globally. Through this partnership, TCS reaffirms its position as a preferred partner for leading organizations in Norway, where it has maintained a significant presence for 30 years. Currently, over 20,000 TCS employees support leading enterprises in the Nordics, driving growth for some of the region’s top multinationals in sectors such as banking, financial services, insurance, telecom, and hi-tech. Additionally, TCS in Norway has ranked #1 in customer satisfaction by an independent survey for eight consecutive years and has also been recognized as a Top Employer by the Top Employers Institute.

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At a glance

TCS Extends Partnership with DNB Bank ASA by 5 Yrs

TCS and DNB Bank ASA collaboration

TCS in Norway

Elin Sandnes

Group EVP of Technology & Services, DNB

Shankar Narayanan

President, Banking & Financial Services, TCS

ABOUT TATA CONSULTANCY SERVICES (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 56 years. Its consulting-led, cognitive powered, portfolio of business, technology and engineering services and solutions is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 607,000 of the world’s best-trained consultants in 55 countries. The company generated consolidated revenues of US $29 billion in the fiscal year ended March 31, 2024, and is listed on the BSE and the NSE in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com.

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