Norwegian banks renew EDB contract

Source: EDB Business Partner

Four Norwegian banks have entered into a renewed and extended agreement with EDB for IT services.

The contract runs for five years, and represents total contract value of approximately NOK 800 million.

"This is an important agreement for EDB. It represents further confirmation that our solutions are competitive, and meet high standards of reliability and process efficiency. We are extremely pleased to be able continue the excellent collaboration we enjoy with Sparebanken Sør, Sparebanken Sogn og Fjordane, Helgeland Sparebank and Gjensidige Bank", comments Endre Rangnes, CEO of EDB.

The agreement covers the supply of solutions and operating services for the banks' electronic services. The new contract also adds the solutions EDB Credit and Sales & Customer Service, which will deliver renewal for the banks' existing channels. By using solutions from EDB's portfolio, the banks benefit from the costs of developing the major components being shared with other EDB customers, while at the same time gaining access to the very latest developments in tools for customer management and case handling.

"The reliability and quality of the solutions on offer played a very important role in our choice of supplier. It is of crucial importance for us that we can offer our customers and employees efficient, user-friendly and forward-looking systems, and this is just what EDB has offered", comments Arvid Andenæs, Managing Director of Sparebanken Sogn og Fjordane.

The agreement runs from 1 April 2009 to 31 March 2014 and represents total contract value of NOK 800 million. Around NOK 650 million of this is additional turnover for EDB, resulting from the extension of existing agreements and the sales of new solutions. As a result of the new contract, Helgeland Sparebank will migrate from its current channel solutions onto EDB's solutions portfolio.

Sparebanken Sør, Sparebanken Sogn og Fjordane, Helgeland Sparebank and Gjensidige Bank are four independent Norwegian banks. The banks have negotiated thee agreement with EDB as ppart of their collaboration agreement on purchasing. Each of the parties will continue to have a bilateral contractual relationship with EDB.

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