Infosys, Citizens Expand Partnership To Drive AI-Powered Transformation

Infosys Ltd. announced on Wednesday the expansion of its long-standing strategic collaboration with Citizens — one of the oldest and largest financial institutions in the US to propel artificial intelligence-led transformation.

Citizens will leverage Infosys’ deep domain expertise in financial services and its innovative technologies, including AI, cloud and automation to develop cloud native domain platforms and achieve data-centre exit, according to an exchange filing on Wednesday.

This AI-enabled transformation will also foster an ecosystem of valuable FinTech and hyperscaler collaborations, delivering hyper-personalised AI-powered customer experiences, and enhancing operational resilience and stability, the filing stated.

"Over the last five years, Citizens and Infosys have achieved significant milestones. They have developed and implemented a comprehensive strategy and blueprint in domain centric platforms, and established a robust data lake," the company said.

They have also developed enterprise application programming interfaces, reached 90% in test automation, successfully migrated critical workloads to the cloud while maintaining operational resilience, and rationalised applications and tools, it added.

Infosys has been a key strategic collaborator in Citizens' next-gen transformation programme for the last five years, according to Michael Ruttledge, chief information officer at Citizens Financial Group. "Together, we have not only modernised our technology landscape with domain-centric, cloud-native platforms but also built a foundation for future growth aligned with Citizens' north star technology vision without losing focus on resiliency and stability."

"We are excited to strengthen our collaboration with Citizens by leveraging our AI expertise with Infosys Topaz, to advance their transformation objectives and business growth," Dennis Gada, global head of banking and financial services at Infosys, said. "As we transition to an AI-first world, this collaboration aspires to redefine the possibilities in banking, combining the strengths of both Infosys and Citizens in banking and technology."

Shares of Infosys closed 4.26% lower at Rs 1,590.85 apiece, compared to a 0.12% decline in the benchmark NSE Nifty 50. The stock has fallen 1.37% in the last 12 months.