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Infosys and DNB Bank ASA Join Forces to Revamp Financial Crime Solutions

In an era where financial crimes are growing more sophisticated, Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), a powerhouse in AI-driven business consulting and technology services, has announced a pivotal collaboration with DNB Bank ASA, Norway's leading financial institution. The goal of this partnership is to modernize DNB's financial crime operations using the cutting-edge NICE Actimize X-Sight Enterprise platform. This strategic enhancement aims to unify DNB's previously fragmented financial crime systems into a cohesive, intelligence-led, cloud-native architecture.

As the systems integration partner, Infosys will take the lead in an end-to-end transformation of DNB's financial crime technology landscape, including the design of enterprise architecture, integration of platforms, and seamless data migration. This initiative will consolidate critical functions such as customer and payment screening, customer due diligence, as well as transaction and fraud monitoring onto a singular, scalable Software as a Service (SaaS) platform, equipped with unified enterprise case management.

A key component of this modernization is the implementation of the NICE Actimize X-Sight platform, which is designed for secure and scalable operations. Infosys will leverage its extensive experience in financial crime systems to incorporate X-Sight's advanced analytics and intelligent automation capabilities. This collaborative effort promises to give DNB a comprehensive view of customer risk and enhances its capacity to detect complex, evolving financial crimes. Notably, the AI-driven functionalities of this platform are expected to optimize DNB's operational efficiency by enabling advanced automation, thereby fostering a continuous cycle of innovation in financial crime prevention.

Elin Sandnes, DNB’s Chief Operating Officer and Group Executive Vice President of Technology Services, emphasized the necessity of this partnership, stating, “The need to protect our customers and the integrity of the financial system compels us to continuously raise the bar on our detection and investigation capabilities. Collaborating with Infosys and the NICE Actimize X-Sight Enterprise platform is key to enhancing our abilities to effectively detect, investigate, and prevent financial crime while maintaining our long-term digital transformation and compliance goals.”

Craig Costigan, CEO of NICE Actimize, also highlighted the pressing need for financial institutions to adopt more sophisticated, cloud-native methods to counteract the increasingly elaborate nature of financial crime. He indicated that through the partnership with Infosys, the X-Sight platform would empower DNB to alleviate the challenges posed by growing fraud and financial violations, while improving overall operational effectiveness.

Dennis Gada, Infosys’s Executive Vice President and Global Head of Banking Financial Services, reiterated the urgency for banks to upgrade their legacy systems. He stated, “Financial crime is a rapidly evolving challenge, and legacy systems are often insufficient to keep pace. By integrating anti-money laundering and fraud capabilities into an AI-enabled enterprise cloud platform, we’re facilitating DNB Bank ASA’s shift from a fragmented control system toward a unified intelligence-led operational model. This shift allows for earlier detection, smarter investigations, and more consistent responses across different jurisdictions.”

DNB, which is not just Norway's largest bank but also a significant player in technological advancements in finance, will benefit immensely from this collaborative initiative. By modernizing its FinCrime operations, DNB aims to solidify its market position while enhancing its commitment to regulatory compliance and digital transformation.

The implementation of the NICE Actimize X-Sight platform will not only facilitate a comprehensive view of customer risk but also serve as a robust framework for detecting and responding to financial crime threats in real-time. As a leader in the financial services sector, DNB is prepared to tackle the complexities of modern financial ecosystems, ensuring that its operations and customer interactions maintain the highest standards of integrity and compliance.

In conclusion, the collaboration between Infosys and DNB Bank ASA marks a significant milestone in the ongoing battle against financial crime, showcasing how technology can be harnessed to create safer and more secure financial services for everyone involved.