Premium business consulting and information technology provider Infosys Limited (INFY - Free Report) recently won a five-year contract from Germany’s Commerzbank. Under this, Infosys will enhance the bank’s services based on its Design Thinking and AiKiDo framework. The financial terms of the contract have been kept under wraps.
As per the agreement, Infosys will be in charge of restructuring critical IT processes of the bank, including investment banking architecture and evaluation of Post-Trade Processing Utility. Following this, Commerzbank will be able to combine diverse trade processing platforms of different product types, simplifying its operations to a great extent. Also, Infosys will help the bank set up a Center of Competence to better serve Commerzbank’s Corporates and Markets segments.
In addition, Infosys create an exclusive online and physical academy for the bank’s employees to foster a continuous learning environment and consolidate existing IT applications for enhanced performance. It is believed that the “middle and back office” utilities will form the cornerstone of further digitization of the financial services industry. Meanwhile, Commerzbank believes that the adoption of Infosys’ services will help it fend off cut-throat competition in the industry through the exploration of new business models.
Innovation is the key to Infosys’ success apart from initiatives like the empowerment of employees through the Zero Distance Program and improvement of next-generation services with offerings like AiKiDo. The company’s AiKiDo offerings, the acronym for Artificial Intelligence, Knowledge-based IT and Design thinking, which were introduced during the second quarter of fiscal 2016, are rapidly gaining traction and look set to boost profits in the quarters ahead.
During the fourth quarter, these services gained solid traction after major clients like Bank Leumi (UK) PLC, Al Ahli Bank in Kuwait and Albaraka, one of Morocco’s leading microfinance institutions, adopted it. We believe that the intense competition prevailing in the banking industry are compelling more financial institutions to streamline their IT infrastructure, which in turn is propelling demand for Infosys.
Infosys currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include CoStar Group Inc. (CSGP - Free Report) , EarthLink Holdings Corp. and RELX NV . While CoStar Group and EarthLink Holdings sport a Zacks Rank #1 (Strong Buy), RELX NV holds a Zacks Rank #2 (Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Premium business consulting and information technology provider Infosys Limited (INFY - Free Report) recently won a five-year contract from Germany’s Commerzbank. Under this, Infosys will enhance the bank’s services based on its Design Thinking and AiKiDo framework. The financial terms of the contract have been kept under wraps.
As per the agreement, Infosys will be in charge of restructuring critical IT processes of the bank, including investment banking architecture and evaluation of Post-Trade Processing Utility. Following this, Commerzbank will be able to combine diverse trade processing platforms of different product types, simplifying its operations to a great extent. Also, Infosys will help the bank set up a Center of Competence to better serve Commerzbank’s Corporates and Markets segments.
In addition, Infosys create an exclusive online and physical academy for the bank’s employees to foster a continuous learning environment and consolidate existing IT applications for enhanced performance. It is believed that the “middle and back office” utilities will form the cornerstone of further digitization of the financial services industry. Meanwhile, Commerzbank believes that the adoption of Infosys’ services will help it fend off cut-throat competition in the industry through the exploration of new business models.
Innovation is the key to Infosys’ success apart from initiatives like the empowerment of employees through the Zero Distance Program and improvement of next-generation services with offerings like AiKiDo. The company’s AiKiDo offerings, the acronym for Artificial Intelligence, Knowledge-based IT and Design thinking, which were introduced during the second quarter of fiscal 2016, are rapidly gaining traction and look set to boost profits in the quarters ahead.
During the fourth quarter, these services gained solid traction after major clients like Bank Leumi (UK) PLC, Al Ahli Bank in Kuwait and Albaraka, one of Morocco’s leading microfinance institutions, adopted it. We believe that the intense competition prevailing in the banking industry are compelling more financial institutions to streamline their IT infrastructure, which in turn is propelling demand for Infosys.
Infosys currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the industry include CoStar Group Inc. (CSGP - Free Report) , EarthLink Holdings Corp. and RELX NV . While CoStar Group and EarthLink Holdings sport a Zacks Rank #1 (Strong Buy), RELX NV holds a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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