Infosys To Buy Majority Stake In ABN AMRO’s Mortgage Unit

Indian software services and consultancy firm Infosys is set to acquire a 75% stake for Rs 986 crore or 127.5 million Euros ($143 million) in Stater NV, the mortgage service provider of Dutch bank ABN AMRO, the company said in a media statement.

The Bengaluru-based $10-billion IT firm has also partnered with the Amsterdam-based ABN AMRO to provide digital banking services for the latter’s customers. The services include digitising the mortgage business, improving customer experience, bringing operational efficiencies apart from other digital transformation initiatives, the statement added.

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According to the company, Stater is a market leader in the Benelux region (Belgium, Netherlands and Luxembourg), operating across the mortgage and consumer lending value chain with deep capabilities in digital origination, servicing and collection. The existing management will continue to govern the company.

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