Logica, a leading IT and business services company, has signed an agreement with Bankgirocentralen AB (BGC) in Sweden to further develop, test and adapt parts of BGC's payments services.
Logica will develop new web interfaces, which will primarily be accessible from Internet banks, for certain bank giro services. The agreement is part of BGC's continued efforts to develop innovative bank giro products jointly with cooperative partners.
BGC currently manages bank giro transactions totalling SEK 25 - 50 billion daily. Logica will use a combination of local expertise in the Nordic region and offshore resources in India to deliver the project, leveraging the established blended delivery model to ensure quality and cost-efficient delivery. The solution will manage considerable volumes of high value payments, so the project is subject to major demands for risk management. Logica will also assist in developing payments products for BGC.
Birgitta Simonsson, CEO of BGC said: "Together with Logica, we will now advance the development of our bank giro platform. This will enable us to continue to offer our customers, the Swedish banks, a very strong product range at competitive prices. As a result of our close collaboration with Logica, we are confident that its team will help us complete this important project."
Logica signed an earlier agreement with BGC to provide system development services as well as managing current IT systems.
"We already have a close partnership with BGC as well as other financial institutions, and we are delighted to be able to contribute our local and international expertise to this significant national project," said Vahid Zohali, managing director of Financial Services at Logica in Sweden.