Infosys to modernise technology infrastructure of ONB

Evansville, Indiana-based Old National Bank (ONB) has signed on information technology services firm Infosys to modernise its existing technology infrastructure.

The digital transformation deal is expected to enhance the bank’s client and employee experience. 

According to Bengaluru-based Infosys, the technology up-gradation at ONB will accelerate growth while streamlining operating models. The IT services firm said that its advanced automation capabilities will increase the bank’s speed to market apart from delivering a consistent experience to stakeholders. 

The country's second-largest software exporter said that ONB is looking to accelerate the growth in commercial banking as well as deepening relationships with customers through digital channels and simplifying the client-facing and internal processes.

“Infosys will build a state-of-the-art technology platform with sophisticated and advanced capabilities. This will enable us to provide differentiated solutions and ultimately enhance the client experience,” Jim Ryan, chairman and CEO of Old National Bancorp said in a statement.  

The partnership with ONB is expected to strengthen Infosys’ presence in Indiana, the company said. It has tied up with the Purdue University and other academic partnerships in the state to source local talent. Faced with visa issues, Indian IT services companies have increased hiring locally for talent and have onboarded thousands of US citizens in the last few years. 

Like its peers, Infosys is betting on digital transformation projects to help it navigate the Covid-19 crisis. Late last month, It announced that Ho Chi Minh City, Vietnam based non-banking financial services firm FE Credit had expanded their partnership to subscribe Infosys’ Finacle digital banking solution. The deal will also see the Vietnamese financial services firm migrating from on-premise to cloud.

Infosys will report its first-quarter financial results this week even as the Covid-19 pandemic tests the resiliency of the IT industry.