Tieto signs Storebrand Bank to SaaS offering

Source: Tieto

Storebrand Bank has selected leading Nordic IT service company Tieto to provide Software as a Service (SaaS) solution for its capital markets business.

Tieto runs the service from its carbon-neutral data centre, taking full responsibility for ensuring smooth operations of Storebrand Bank's capital markets software and related applications. Storebrand Bank is a part of the Storebrand Group, a leading player in the Nordic financial markets.

The agreement enables the bank to free up internal resources, simplify its application management operations and cut operational risks. It also gives the bank access to the Nordic region's leading experts in IT and the capital markets business. The first stage for Tieto is to ensure that all Storebrand's operations in Norway are running smoothly.

Benny Glærum, head of trading at Storebrand Bank, says: "We turned to Tieto because we wanted a proactive partner that could respond quickly to our needs, ensuring that we continue to maintain and build our place in the market. The single point of contact (SPOC) approach that Tieto offers with this service simplifies everything for us and helps us to focus on serving our customers better."

Jon Alvar Oyasaeter, Director Capital markets & Life at Tieto's Financial Services says: "We ensure that end users are running the latest software version at all times. By turning to Tieto for a Securities as a Service solution, Storebrand Bank can be sure that there will be no problems with upgrades, database maintenance and connectivity, as we are responsible for all of this through the agreement."

"This new way of delivering services plays a key role in our strategy. With this offering, we aim to address not only the Nordic markets but also the financial services sector in the UK," Oyasaeter concludes.

Tieto's solutions for the financial industry include from banking services, internet banking and payment, and card and capital market services to development, application management and outsourcing.

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