Bendigo Bank Signs Infosys and Genpact Deals as IT Restructure Drives Workforce Changes
Bendigo and Adelaide Bank has announced a major overhaul of its technology operations, signing a seven-year IT services agreement with Infosys and a six-year deal with Genpact.
The bank said the partnerships are expected to improve operational efficiency and technology capabilities, but will also lead to workforce changes across its IT and business operations teams. While the exact number of impacted roles has not been disclosed, the bank confirmed that employees will be consulted as the restructuring plans are finalized.
CEO Richard Fennell acknowledged the challenges ahead, stating that decisions affecting employees are difficult and that the organization will aim to manage the transition with care and respect.
The move builds on an ongoing restructuring effort that began last year, when hundreds of technology roles were cut as part of a broader transformation initiative.
Under the new agreements, Infosys will focus on enhancing IT service delivery, including access to advanced software engineering and AI expertise. The company has an existing relationship with the bank, having previously delivered projects such as document management systems.
Meanwhile, Genpact will support process optimization and operational improvements, with a focus on increasing productivity and strengthening risk management across the organization.
The restructuring reflects a broader trend among financial institutions seeking to modernize technology operations and leverage external expertise, even as such changes bring significant implications for their workforce.
