Bendigo and Adelaide Bank has revealed a major shake-up of its technology operations, signing a seven-year IT service delivery deal with Infosys and six-year deal with Genpact.
The bank said in an ASX filing [pdf] that the deals would directly impact its technology and business teams, but it did not say by what quantum.
The bank said that “process and operational improvements expected to be delivered by these partnerships will lead to workforce changes, impacting people in our technology and business operations teams.”
“Substantial progress has been made, but the detailed design for all impacted areas is yet to be finalised and employees will be consulted on roles and team structures,” the bank said.
CEO and managing director Richard Fennell said that “decisions that impact our people are never easy.”
“We acknowledge this will be a challenging time for our people and we are committed to lead these changes with care and respect,” Fennell said.
Bendigo's restructure of its technology operations kicked off late last year, when it axed roles impacting 637 technology workers, according to the Finance Sector Union.
Under the new outsourcing deals, the bank will look to Infosys to "significantly improve [its] IT service delivery capability and provide access to enhanced capabilities, software engineering and AI talent."
Infosys is a long-term partner of the bank and has previously delivered projects, such as around document management.
The agreement with Genpact, a professional services and digital transformation firm, meanwhile is intended to cover "expertise in process optimisation and delivery to drive greater productivity and support stronger risk management across the bank."
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