EDB signs Sparebank 1 to corporate payments products

EDB signs Sparebank 1 to corporate payments products

Norway's SpareBank 1 has signed a three year contract, worth some NKr15 million, with EDB Business Partner for the supply of Web-based payment systems for its corporate customers.

The bank says it will use the EDB technology to modernise the existing online portal used by its business customers.

EDB's payments and financial information products will replace the bank's existing portal application and will be used to add new and expanded functions.

The vendor says its products for the corporate market are component-based and can be integrated with bank portals and other systems.

Eivind Gjemdal, EVP for IT, SpareBank 1, comments: "Online banking for companies requires a complex solution which must manage authorisation structures, international transfers and financial information for our business clients. At the same time, this service must be user-friendly for the small and medium-sized enterprise market."

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