Bolig- og Næringsbanken (BNbank) has signed a contract with EDB Business Partner for the supply of IT solutions and operating services for its banking activities. The contract runs for five years from 1 April 2004 to 31 March 2009, and represents business volume in the order of NOK 60 million over this period. The contract is a renewal of an existing agreement for the supply of solutions and operating services.
"We want IT solutions that support our banking production and customer service, as well as helping to reduce the bank's operational risk. By agreeing this renewal of our long-term customer relationship with EDB we secure consistent product development and a known level of costs", explains Olav Isak Sjøflot, Head of IT at BNbank.
The new five-year contract is renewal of the current agreement with EDB. EDB Bank & Finance provides BNbank with a complete IT solutions portfolio and infrastructure for its core activities in the areas of lending, deposits, integration with accounting and reporting, payment services and foreign exchange, customer dialogue and information distribution, Internet banking, branch banking procedures and sales and integration with the bank's other systems. IT operating services are provided by EDB IT Operations.
"This contract confirms our strong position as a supplier of mission-critical solutions to Norwegian banks. Our products give BNbank the opportunity to strengthen its competitiveness while ensuring a low risk profile at competitive terms. Our long-standing collaboration with BNbank also helps to strengthen EDB's environment for the development of new and forward-looking solutions for the banking and finance sector", comments Ole Urdahl, Executive Vice President Bank & Finance in EDB.