SEB signs with EDB for Internet banking system

SEB signs with EDB for Internet banking system

Stockholm-based SEB has signed a contract worth around Nkr13 million with EDB Business Partner for the co-development of an Internet banking system initially designed for customers outside the Swedish market.

Under the contract, EDB will work with SEB's IT staff to develop the new platform using its existing components and technology.

Conny Hjalmarsson, MD of IT, SEB, says: "This approach offers significant advantages for SEB in the form of a shorter development period and lower development costs. We have chosen EDB as our partner for this project on the basis of the company's concept of re-usable components and its expertise in this area."

Development of the new Internet banking platform is expected to be complete by the end of the year. The bank says it will subsequently consider whether to use the new system throughout the SEB group.

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