Helsinki-based Nordic Investment Bank (NIB) has signed a seven year contract worth EUR2 million with EDB Business Partner for the supply and provision of a commercial lending system.
EDB's bank and finance division will supply NIB with a customised version of its SysCon Lending System.
SysCon is a component-based product designed for both commercial and retail lending operations that provides administration for the duration of a loan.
Bo Heide-Ottosen, executive vice president, NIB, says: "We look forward to utilise the system in order to obtain further efficiency in our lending processes."
EDB says the system is also used by the Bank of Scotland, the Nationwide Building Society and Cheshire Building Society in the UK, Societe Generale in France, Alpha Bank in Greece and Danish Ship Finance (DSF).