Norway's Sparebanken Vest has signed a contract worth Nkr45 million with EDB Business Partner for a jointly developed Internet banking system and corporate lending solution.
Under the terms of the agreement, Sparebanken Vest and EDB Fellesdata will work together to develop both an Internet banking system for retail customers, including e-mail services, and a lending system to support commercial loans processes.
In addition the bank has purchased EDB Fellesdata's standard system for credit card administration and EDB Teamco will provide operating and network services.
Ole Urdahl, executive vice president, EDB Bank and Finance, says the new solutions will be based on re-usable components that can be customised to meet specific customer requirements and used across different channels. The vendor will have the right to sell on products developed under the contract.
"The new systems for Internet banking and lending that we have agreed to develop in partnership with Sparebanken Vest will add a new generation of solutions to our existing product portfolio for these areas," adds Urdahl.
Sparebanken Vest says the agreement will ensure that it continues to have efficient and functional IT solutions in future years.