(Oslo, 15 May 2003) Telespar, which is currently setting up as a savings bank, has signed a contract with EDB Business Partner's wholly owned subsidiary EDB Fellesdata to purchase software, IT operating services and consultancy support for its banking activities. The contract runs for three years and has an initial value of NOK 18 million.

 

Telespar has been granted a licence to convert from an in-house employee banking service into a savings bank, and plans to start full-service banking activities in the summer of 2003.

"Our objective is to offer a full range of banking and financial services to our 15,000 customers", explains Stein Kolrud, Managing Director in Sparebanken Telespar.

"We have chosen EDB Fellesdata as our systems supplier on the basis of a full evaluation of commercial and functional considerations seen in relation to our needs for an expanded range of services, efficient banking operations and up-to-date self service solutions", adds Mr Kolrud.

 

The contract provides for Sparebanken Telespar to purchase IT solutions and functionality for the management and operation of the bank as well as payment services and Internet banking solutions providing self-service functionality for customers. In addition the bank has agreed to purchase consultancy support to assist with establishing its banking operation, staff training and implementation of the EDB Fellesdata systems. Operating services will be provided by EDB Teamco.

 

Sparebanken Telespar will be part of Terra-Gruppen.

 

 

More about Sparebanken Telespar

Sparebanken Telespar's business objective is to provide financial services to its target groups. Sparebanken Telespar is owned by its depositors and primary capital certificates' owners, and currently has approximately 15,000 active customers and total assets of some NOK 1.3 billion.

 

 

Any enquiries may be addressed to:

Knut Holmen, Executive Vice President, Bank & Finance, EDB Business Partner,

Tel. +47 22 52 82 60, +47 97 68 57 58

 

Stein Kolrud, Managing Director, Sparebanken Telespar, Tel. +47 67 89 08 39, +47 90 07 88 45