Infosys to acquire 75% of ABN AMRO’s mortgage service unit

Mohit Joshi, President, Infosys

Infosys and ABN AMRO have entered into a strategic partnership wherein Infosys will acquire 75% of shares(for 127.5 million euros) in Stater N.V., a wholly owned subsidiary of ABN AMRO Bank. The partnership aims to strengthen Infosys’ position across the mortgage service chain.

Mohit Joshi, President, Infosys, said, “This transaction strengthens our approach to offer clients digital platforms and industry-focused solutions. It brings together our complementary capabilities to enhance the value we offer to our financial services clients. We are excited to welcome Stater’s talented team to the Infosys family, thereby enhancing our presence in Europe.”

The supplier states that the partnerhsip will drive Stater’s digital transformation with the help of Infosys’ API layers, RPA and analytics. Stater’s mortgage knowledge and experience coupled with the global reach, AI and automation capabilities of Infosys is expected to present a set of differentiated solutions for the market.

Christian Bornfeld, Member of the Executive Board of ABN AMRO, said, “While mortgages are a key product for ABN AMRO, providing administrative mortgage services is not a core activity. That’s why we are very pleased with Infosys as Stater’s new majority shareholder. ABN AMRO will keep a strategic interest of 25% and will continue to be an important client to Stater.”

Erwin Dreuning, Managing Director, Stater, said, “We are eager to welcome Infosys as a new shareholder. As they are already active in mortgage administration services, Infosys offers specific expertise. With the combined forces of ABN AMRO, Infosys and Stater ensures we have a solid basis to pursue our plans to for further development of our service offering. Furthermore, it opens up opportunities for us to grow and service other clients.”

Recently Infosys’ consulting arm acquired 81% stake in Hitachi’s subsidiary to set up a new venture in Japan.

Stater offers pure-play, end-to-end mortgage administration services in the Netherlands, Belgium and Germany.

Headquartered in Amsterdam, ABN AMRO is a Dutch bank for retail, corporate and private banking clients.

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