Verdibanken originally signed a 5-year contract with EDB in July 2002 which represented business volume of NOK 45 million. This contract was subject to Verdibanken being granted a banking licence. The new 7-year agreement replaces this original contract.

 

EDB Bank & Finance provides IT solutions and functionality for payment services and the management and operation of the bank, as well as solutions for self-service channels. In addition Verdibanken is using consultancy services from EDB Bank & Finance to assist with setting up its banking operations and implementing its banking systems. EDB IT Operations provides the IT operating services element of the contract.

 

"I am delighted to see that yet another new banking operation has chosen EDB's solutions portfolio as the basis for the financial services it offers", comments Ole Urdahl, Executive Vice President - EDB Bank & Finance.

 

Verdibanken is now starting its full service banking operation. The bank's objective is to be a leading commercial bank for religious organisations and similar entities. The target customer group will also include retail and corporate customers looking for a fund manager that emphasises Christian ethics and social responsibility.

 

"With the help of solutions and infrastructure from EDB we have set up a full-scale banking operation in just a short time. We are very pleased with the functionality and flexibility EDB delivers for our banking operations", comments Sigmund Thorsell, Managing Director of Verdibanken.

 

 

 

 

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