The agreement covers project implementation, software license, services as well as application management including 24/7 application support. The project will execute during 2006 and into Q2 2007.

The new solution will enable Handelsbanken to offer a range of innovative and complex cash management products to corporate customers made available through a web-based service. The services include multi-currency and cross-border capabilities, sweeping and topping, zero balancing, inter company lending, balance netting and notional pooling.

The solution includes the standard Cash Management module from the PBS Core Banking Suite and represents the most sophisticated cash management solution available in the global market place today.

Ståle Grønningsæter, head of TietoEnator Banking Solutions, says: "This agreement means an extension of the customer base of our strategic cash management solutions to include Handelsbanken, one of the best run major banks in Europe. We are proud that the bank chose to extend the already existing relationship into this very key area for the future of the bank."

Separately, TietoEnator and OP Bank Group have renewed their frame agreement on IT co-operation. The agreement covers co-operation in IT services and solutions supply. It includes operating models for project deliveries, maintenance, consulting and personnel resource services, processing and network services as well as ASP services.

With this agreement TietoEnator and OP Bank Group aim to strengthen their co-operation. The processes and models in the agreement will cover all operations between the parties.

The frame agreement harmonizes operations and gives the co-operation continuity with defined clear conditions and objectives. Separate agreements on deliveries will also be easier. One additional significant feature is to guarantee the services and resources needed for the customer.