Norway’s largest financial group DNB selects Tata Consultancy Services as its IT Transformation Partner

•  Six year multi-million euro deal to deliver application services
  
• Transformation Initiative is part of DNB’s strategic vision to rank amongst Europe’s most efficient digital banks

Oslo, Stockholm, Copenhagen, Helsinki, Mumbai, September 3^rd, 2013: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading IT services, business solutions and consultancy firm today announced that it has been selected by DNB to drive the company’s strategic transformation by leveraging Information Technology (IT). The six year managed services contract comprises delivery of application maintenance and development services across DNB’s IT portfolio, spanning channels, core-banking and master data areas.

“Selecting TCS as our IT partner is an important and concrete step in DNB’s transformation process. It will lead to increased stability in IT operations, high degree of efficiency and easy access to competencies and skills across the entire IT area, which spans various technologies used in DNB’s business units.  It was important for DNB to select the right long term partnership as this directly impacts how we deliver future solutions to our customers. In TCS we have found the capabilities and experience that we were looking for,” said Liv Fiksdahl, Head of IT & Operations in DNB.

“The financial services sector is heavily impacted by the confluence of technology, evolution of regulatory requirements and change in customer behavior.  We see DNB being on the fore-front of driving the actual execution that this new environment requires and are committed to working with them in their transformational journey towards becoming Europe’s most efficient digital bank,” said Amit Bajaj, Head of TCS North Europe.

Present in the Nordic region since 1991, TCS has continuously invested in the market locally to deliver consistent results to its customers. TCS’ Nordic operations comprise over 5500 professionals working across Sweden, Finland, Norway, Denmark and Iceland, servicing leading Nordic companies. Its scale of operations has doubled since 2010 in the region with significant increase in local hiring. TCS had been selected as the Nordic leader in Customer satisfaction across various surveys for the fourth consecutive year.

About DNB

DNB is Norway’s largest financial services group, with 32% market share in the retail market in Norway, and a total group assets exceeding 2,000 billion NOK. The DNB Group offers a full range of financial services – including loans, savings, advisory services, insurance and pension products for retail and corporate customers and the public sector through a strong distribution network comprising 200 branches in Norway, and in-store postal and banking outlets in more than 2000 shops. Beyond Norway, DNB has presence is 19 countries. DNB group has over 13 000 talented employees who live to deliver strong customer orientation through its vision ”Creating value through the art of serving the customer”.

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognised as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 276,000 of the world’s best-trained consultants in 44 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

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