Norwegian bank DnB Nor - created by the recent merger of Den norske Bank (DnB) and Gjensidige Nor - has signed a two year contract worth EUR7 million with TietoEnator for the supply and implementation of the vendor's electronic payments processing engine, ProPay.
The merged bank recently postponed plans to implement a core banking system supplied by TietoEnator, a move which forced the vendor to revise its Q2 earning forecast earlier this year. At the time, TietoEnator said the bank had agreed a three year contract for the ProPay engine, but the latest announcement stipulates a two year deal.
ProPay will replace three existing payment systems and will enable DnB Nor to integrate its payment processing operations. The bank will also use the platform to insource payment services from several partner banks.
TietoEnator says the deal also includes the supply and deployment of its ProSwitch messaging system, the ProRepair STP repair application and the ProMatch matching engine, together with the common data repository, ProDirectory.