(Oslo 28.05.02) The Norwegian IT-group EDB Business Partner expands its business within Bank & Finance in Poland and establishes a new subsidiary EDB Ster Polska, together with the Polish IT company Ster-Projekt. EDB Ster Polska, formed as a joint venture company, will have a capital of over PLN 10 million, with EDB Business Partner holding 51% and Ster-Projekt holding 49%.

 

EDB Ster Polska is established for the marketing, sales, delivery and support of banking and brokerage software products, including outsourcing, to the Polish market. Its activities will be based on EDB Business Partner Bank & Finance product portfolio together with products and services from Ster-Projekt. The company is now in place in Warsaw with an initial staff of approximately 20 employees.

 

"Poland is a growing and highly interesting market, in which we are very keen to have a presence. Our ambition with EDB Ster Polska is to introduce a new generation of software components and suites of solutions, that supports the business goals and strategies of the Polish bank and finance market.

Competencies related to the business and to the application of IT in banks and modern IT-solutions, are key issues in addressing any bank's needs, and we can meet these needs by adapting, integrating and deploying our modern IT-solutions.

 

It is EDB Business Partner's strategy to expand its business into new strategic markets by establishing a local presence with knowledge of customers and markets. Ster-Projekt is well established in Poland with knowledge of infrastructure and having existing relations with Polish banks", comments Ole Trasti, Executive Vice President, Bank & Finance in EDB Business Partner.

 

"EDB Business Partner's competencies and offering of products and services within Bank & Finance, combined with the services that Ster-Projekt offers to the Polish market, will give EDB Ster Polska strengths that will ensure a highly competitive position. We believe this alliance will create new standards for the Polish bank and finance market", states Piotr Smolski, President of Ster-Projekt.

 

EDB Ster Polska's core business is software components and solutions, primarily for retail banking. The solutions provided cater for the banks' CRM needs. The product portfolio to be offered will include self-service channel solutions (e.g. telephone banking and Internet banking for both private and corporate customers) including security and channel administration and based on an advanced e-Banking concept, advanced branch solutions including self-service branches and call centre solutions, and complete retail banking systems.

 

A wide range of outsourcing services will gradually be introduced to address a maturing market for outsourcing services.

 

Ster-Projekt SA is a nation-wide integrator of advanced IT solutions and dates back to 1986. The company made its debut on the free market of the Warsaw Stock Exchange in December 1999, and its shares were listed on the main floor of WSE for the first time in March 2000. Ster-Projekt has over 300 employees, and the company's structure comprises a headquarters operation in Warsaw and branches around the country. Operating revenue in 2001 was PLN 248 million.

Universal products and services are aimed at all groups of IT users. These primarily relate to hardware and network infrastructure, basic system software and generic application tools. Ster-Projekt specialises in telecommunications solutions and offers expertise in the implementation of integrated systems. The philosophy of the company's operations, together with its potential, knowledge, achievements and accomplishments, has won the recognition as a leading provider of IT and telecommunications technologies.

EDB Business Partner is a leading IT group in the Nordic region. The group, which is listed on Oslo Stock Exchange, generated operating revenue of NOK 5.061 million in 2001 and has more than 3,200 employees. EDB Business Partner offers software systems, consultancy and computer operating services. The leading-edge expertise in the areas of bank & finance and telecommunications forms the basis for the group's international expansion beyond the Nordic countries.

The business area Bank & Finance is operated by the wholly owned subsidiary EDB Fellesdata, and has subsidiaries and presence in Sweden, Benelux, UK and Poland in addition to Norway. The Bank & Finance area forms one of the largest Nordic centres for the development of software systems for banking with 860 employees and an operating revenue of NOK 1003 million in 2001. In addition to being a dominant player in the Norwegian banking market, the company has contracts and deliveries to major financial institutions in European countries.

 

The product portfolio comprises software components and solutions for self-service channels, branch offices, lending, savings products, foreign currency, accounting as well as complete suites of retail banking systems. All solutions offer integration with other banking systems.