Tieto signs five-year funds and securities tech deal with Skandiabanken in Norway

Source: Tieto

Tieto has signed a five year agreement with Skandiabanken ASA to provide funds and securities solutions. The agreement is an important business enabler to Skandiabanken ASA as an independent Norwegian bank and a step in strengthening both companies’ foothold in Norway.

Skandiabanken was launched in April 2000 as the first pure online bank in Norway. In November 2015 it was listed as an independent bank on the Oslo Stock Exchange. With Tieto´s solutions the bank will be able to provide future-oriented funds and securities offerings to its customers while ensuring cost-efficient and secure operations. The new agreement also includes options for pension savings solutions and business process outsourcing.

- We are continually looking for better and more efficient solutions in order to provide our customers with user-friendly banking services. Innovative, solid and secure IT solutions are an increasingly important part of banking operations, and we are pleased to upgrade our funds and securities solutions together with Tieto. It enables us to remain as the leading challenger to the traditional banks, says Magnar Øyhovden, CEO of Skandiabanken ASA.

Tieto offers a wide range of products and services in the financial sector and is a leader within the Nordic funds and securities market. The secure and stable solutions are in line with current regulations, such as the requirements for increased transparency, and will help Skandiabanken ASA to reduce complexity, costs and time to market and support the bank´s future growth.

- Skandiabanken ASA is starting an exciting journey as an independent bank in Norway and we are pleased to have been chosen to be part of it. Based on Tieto’s deep understanding of the financial markets and our strong capital markets portfolio, we will be able to continue on Skandiabanken´s tradition of close customer relationships, says Christian Segersen, Vice President, Financial Services Tieto.


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