Source: Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS) and its wholly-owned subsidiary KORDOBA GmbH & Co. KG (KORDOBA), today announced that KORDOBA has signed a long-term renewal of its outsourcing relationship with Bankhaus Lampe KG (BHL).
Under the multi-year, $50 million agreement, KORDOBA will provide IT hosting, application management and distributed computing support services. BHL will continue to use the KORDOBA core banking software suite and securities application, both market-leading applications in Europe.
"After depending on KORDOBA's software products and outsourcing services for many years, the decision to renew this agreement is a natural expansion of our partnership," said Dr. Karl-Heinz Franke, general partner of BHL. "As a leading private bank, it is important for us to have functionally strong applications and a dependable service provider who can adapt to our changing market requirements. KORDOBA is that provider."
KORDOBA products, including KORDOBA Classic and KORDOBA Global Securities, are market-leading technology platforms for banks in Germany. KORDOBA Classic has recently been enhanced to include extensive architectural and functional improvements and is used by a number of leading banks. KORDOBA Global Securities is a platform-independent securities system built to address the most functionally demanding direct, private and regional banks in Europe.
"BHL is a strategic customer for KORDOBA and FIS. As a leading private bank in Europe, their decision to choose KORDOBA sends a clear message to the market that we are an important technology partner for German banks," said Barry Dark, chairman of the KORDOBA Management Board. "Given the stature of BHL in the regional banking community, we appreciate the confidence that they have placed in our company and solutions. We look forward to continuing our successful relationship with BHL as we help the bank achieve their business objectives."