Hot Pursuit     15-May-24
Infosys inks pact with First Abu Dhabi Bank to modernize IT infrastructure
Infosys has announced a multi-year strategic collaboration with First Abu Dhabi Bank (FAB), the largest bank in the United Arab Emirates (UAE), to optimize and modernize FAB’s IT infrastructure services.
As part of this collaboration, the company will leverage Infosys Cobalt, a set of services, solutions, and platforms for enterprises to accelerate their cloud journey, to deliver industry-leading, infrastructure-managed services, including service desk capabilities, to transform FAB’s IT infrastructure.

Enterprises tools includes artificial intelligence- (AI) and machine learning (ML)-based automation, providing self-healing and self-help capabilities, proactive and prognostic monitoring and observability, improving the resilience of the infrastructure estate, blueprint-based environment provisioning, helping to reduce provisioning time exponentially, allowing faster time to market.

The collaboration aims to transition to an outcome-oriented, automated-managed services model that delivers high-quality, compliant IT services with increased speed and agility. In the long term, it will also establish a highly scalable and flexible IT infrastructure

Suhail Bin Tarraf, group chief operating officer, First Abu Dhabi Bank (FAB), said, “At FAB, we are committed to transforming our IT organization and delivering world-class services that drive tangible business outcomes. After a thorough evaluation, we selected Infosys as our strategic partner due to their proven expertise, innovative solutions, and the strong trust they built at all levels. Infosys’ outcome-oriented managed services model coupled with their automation-powered delivery approach will help us significantly improve service quality, compliance, and operational efficiency.”

Dennis Gada, executive vice president and global head of banking & financial services, Infosys, said, “We are delighted to collaborate with First Abu Dhabi Bank to optimize and modernize their IT infrastructure services, by leveraging Infosys Cobalt and Infosys Topaz. FAB recognized the need to transform their IT operating model, and entrusted Infosys with their IT infrastructure, enabling their digital journey to proceed faster and with more resilience on the backend.”

Infosys is a global leader in next-generation digital services and consulting.

The IT major's consolidated net profit jumped 30.51% to Rs 7,969 crore in Q4 FY24 from Rs 6,106 crore in Q3 FY24. Revenue from operations declined 2.31% to Rs 37,923 crore in Q4 FY24 as compared with Rs 38,821 crore in Q3 FY24.

The scrip rose 0.11% to end at Rs 1,424.85 on Tuesday, 14 May 2024.

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