Infosys (INFY) has inked a 5-year strategic partnership deal with U.S.-based Frost Bank to provide strategic business consulting and digital capabilities, thereby helping the bank offer new mortgage loan products over and above its other consumer loan products. Shares of the Indian multinational information technology company, with a current market capitalization of around $100 billion, have gained 69% over the past year. (See INFY stock charts on TipRanks) Infosys will utilize its strong expertise and years of experience in the independent mortgage solution space in the U.S. and help Frost Bank develop a competitive advantage in the mortgage solutions business.
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