Metro Bank has contracted Infosys to support its digital business transformation and use of automation, artificial intelligence (AI) and data technologies in a deal that will also help it meet cost-cutting targets.

UK lender Metro Bank is axing around 300 jobs and calling in Infosys for an IT overhaul as it bids to find £80 million a year in savings.

Metro Bank, the UK's community bank, has entered into a long-term collaboration with Infosys, a global leader in next-generation digital services and consulting, to enhance some of its IT and support functions,

The lender said the deal is expected to help it save cost and improve efficiency with the expansion of digital and AI capabilities.

This collaboration aims to boost Metro Bank's ongoing initiatives focused on improving efficiency and reducing costs.