Norwegian financial group Gjensidige has signed a Nkr175 million contract with TietoEnator for the supply of transaction collection and clearing, card administration and corporate account solutions.
Under the three-year programme, TietoEnator's products will be integrated with a raft of new in-house applications under development at Gjensidige to form the basis of its new banking platform.
The group says it is investing Nkr350 million in a new banking infrastructure and expects to reduce its annual operating costs by Nkr75 million.
Bente Landsnes, group director, Gjensidige, says the new system will considerably increase efficiency.
"The new platform will also be better suited for round-the-clock operation and is a strategic investment to strengthen our competitiveness," adds Landsnes.