Metro Bank, the UK’s community bank, has entered a long-term collaboration with Infosys to enhance some of its IT and support functions and to digitalise its business operations.
The collaboration supports the bank’s ongoing efficiency and cost-saving efforts. Collaborating with Infosys will allow Metro Bank to enhance its digital capabilities, improve automation, refine data, and embed further AI capabilities.
Leveraging Infosys Topaz, an AI-first offering using productive technologies, the bank can deliver a simpler, more consistent customer experience.
Daniel Frumkin, Metro Bank’s Chief Executive Officer, said, “This collaboration with a world-class provider like Infosys builds on the solid foundations we have already laid, unleashing our true potential and creating a sustainably profitable and scalable organisation that is fit for the future. At the end of this transformation, we will be a very different business. Still, the true essence of Metro Bank will remain the same – a high-quality service organisation putting customers centre-stage.”
“The bank expects to deliver £80m of annualised cost savings this year across multiple initiatives as it progresses towards the target of reaching mid-to-high teen Return on Tangible Equity by 2027. Our vision for 2025 and beyond places our store network firmly at its heart as we continue with our plans to open new stores and bring the Metro Bank experience to the north of England.”
Dennis Gada, EVP and Global Head of Banking and Financial Services, Infosys, said, “Metro Bank’s strategic vision and unique business model, combined with Infosys’ global expertise in driving growth and enhancing efficiencies for mid-sized banks, will significantly contribute to creating value and establishing a top-tier, customer-centric bank. We are excited to collaborate with Metro Bank to drive this transformation by leveraging advanced digital and AI capabilities, banking domain experience, and modernisation and automation focus through Infosys Topaz.”