Sparebanken Møre extends EDB contract

The agreement replaces existing contracts, and runs from 2005 to the end of 2009. The agreement represents business volume over its five-year term of around NOK 200 million.

This new agreement with Sparebanken Møre confirms EDB's position in the Norwegian banking market for independent banks as well as major banking groups. The current agreement between Sparebanken Møre and EDB runs to 2007, and is now being extended by a further two years to the end of 2009.

Sparebanken Møre has chosen to develop and extend its collaboration and agreements with EDB for a complete portfolio of banking solutions and operating services. EDB provides banking solutions in the areas of deposits, lending, cards and payment services, accounting and reporting, message distribution and customer dialogue services, Internet banking and branch office solutions, as well as operating services for these solutions and the bank's IT infrastructure.

Sparebanken Møre is one of the larger independent savings banks in Norway, and has around 125,000 customers. The bank has been one of the most cost efficient Norwegian savings banks in terms of total assets for a number of years.

"We prefer a long-term supplier relationship that will ensure we have up-to-date solutions on competitive terms to support the bank's independence and operational efficiency. We have therefore chosen to reaffirm our continuing collaboration with EDB. The portfolio of banking solutions and related operating services that EDB provides forms the basis for the bank's product development and the range of products and services we offer", comments Olav Arne Fiskerstrand, Chief Executive Officer of Sparebanken Møre.

"This agreement confirms that EDB's banking solutions offer the functionality and breadth of coverage that a major savings bank needs for up-to-date, cost-effective operations", adds Ole Urdahl, Executive Vice President, Solutions at EDB.