Storebrand Bank signs a new five-year contract with EDB

(Oslo 22.12.03) Storebrand Bank has signed a contract with EDB Business Partner for solutions and operating services for its core banking activities and new credit systems. The agreement runs for five years from 2004 to and including 2008, and represents total business volumes of around NOK 130 million.

EDB Bank & Finance currently provides solutions and infrastructure for Storebrand Bank's core banking systems for deposits, accounting and reporting, payment services, self-service, branch office systems and sales. The new contract represents a five-year renewal of this relationship, and replaces existing contracts with Storebrand AS and Finansbanken ASA.
In addition the renewal now includes new networked credit solutions for the bank's account officers, customers and agents as well as the conversion of Storebrand Bank's lending portfolio from in-house systems to new credit solutions supplied by EDB.
 
The new credit solutions from EDB will support the bank's business processes for loan administration and credit approval, and will also make it possible for the bank's customers to apply for loans through the internet banking service. The operating services element of the contract will be provided by EDB IT Operations.
 
"We want standardised solutions for our banking activities, and have therefore chosen to replace our in-house systems for loan administration with systems from EDB. This gives the bank access to economies of scale, and ensures access to modern banking solutions that support our ambitions within the loan and credit area and prepared for future public requirements. Our objective is to ensure more efficient processing of loan applications, credit evaluation and credit approval as well as giving our customers to submit loan applications through the new internet banking system", explains Sverre Edin, Head of IT at Storebrand Bank.
 
"We are delighted that Storebrand Bank has chosen to renew its contract and expand its relationship in strategic cooperation with EDB for further solutions development within the lending area. Storebrand Bank has chosen EDB's new credit solutions for its entire lending portfolio. This confirms that our strategic focus on component-based solutions is meeting the banking market's objectives for more efficient management of the lending area", comments Ole Urdahl, Executive Vice President - EDB Bank & Finance.
 
Any enquiries may be addressed to:
Ole Urdahl, Executive Vice President - Bank & Finance, EDB Business Partner.
Tel. +47 90 53 61 16
Reidar Gjærum, Executive Vice President - Corporate Communications, EDB Business Partner.
Tel. +47 908 55 101
Sverre Edin, Head of IT, Storebrand Bank.
Tel. +47 93 48 04 71
 
EDB Business Partner is one of the leading suppliers of IT operations and software in the Nordic region. We provide industry-leading total solutions in the areas of banking and finance, telecommunications and IT operations. Our objective is to contribute to our customers' value creation by offering productivity-enhancing IT solutions combined with flexible and reliable operating solutions with unique economies of scale. EDB Business Partner has some 2,500 employees with turnover of NOK 4.3 billion in 2002. We are represented in Norway, Sweden, the USA, England, France, Spain and Switzerland. EDB Business Partner is listed on Oslo Børs with the ticker code EDBASA.