(Oslo 01.07.02) Terra-Gruppen AS has entered into an agreement with EDB Business Partner's wholly owned subsidiary, EDB Fellesdata, for the purchase of software and computer operating services for new banking and insurance systems for its member banks. The agreement runs for four years and is worth around NOK 25 million in total.

 

Terra-Gruppen is buying a completely new telephone banking system as well as additional functionality for its internet banking service (NettBank), its branch network (FD Front) and its accounting systems (FD IROS). The agreement also includes the development and supply of a new sales tool for risk insurance products from Terra Liv.

 

The computer operating services element of the contract will be supplied by EDB Teamco.

 

Terra-Gruppen signed a five year contract with EDB in December last year for the supply of systems and operating services for the group's 85 member banks. The parties also entered into a strategic co-operation agreement for self-service and internet-based banking services.

 

Terra-Gruppen has 85 member banks with 216 branches, almost 1,900 employees and total assets of NOK 70,000 million.