The National Bank of Iceland (Landsbanki) has signed a contract worth NKr6.5 million for retail banking software developed by EDB Business Partners and deliverd by local IT services firm Tölvumiðstöð sparisjóðanna (TS).
The software, called Spakur, is based on EDB's FD Front system and has been customised for the Islandic market by TS, which was established to deliver IT services to the Icelandic savings banks.
Under the new contract, TS will deliver and install the system at Landsbanki, with support from EDB's Bank & Finance division.
The package includes includes modules for sales, customer management, credit processing and general banking.
Gudmundur Gudmundsson, CTO of Landsbanki, says the product will provide "access to information on the history of our relationship with a customer and an overview of the services the customer currently uses in order to support additional sales".
TS says Spakur has been implemented by all 24 Icelandic savings banks and Icebank since 1998 but Landsbanki is the first commercial bank to use the product to support its customer services staff.