| The Icelandic bank Landsbanki buys banking solutions developed by EDB |
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(Oslo, 26 April 2004) The Icelandic commercial bank Landsbanki is to use solutions from EDB for sales and customer management, credit processing and everyday banking. The solutions were developed in-house by EDB Bank & Finance, and have been adapted for the Icelandic banking system. The contract represents business volume for EDB of around NOK 6.5 million. EDB has signed this contract in collaboration with the Computer Centre of the Icelandic Savings Banks, Tölvumiðstöð sparisjóðanna (TS). TS purchased a license in 1997 from EDB Bank & Finance for use of the FD Front banking applications package. TS has subsequently adapted and developed the solutions for the Icelandic banking system on behalf of its customer banks. The contract with Landsbanki includes support from EDB Bank & Finance for the commercial implementation of the solutions by TS and Landsbanki.
The applications package, known in Iceland as Spakur, has been used since 1998 by all 24 Icelandic savings banks and Icebank. Landsbanki is the first commercial bank to use Spakur to support its customer consultants.
"We are continually looking for new ways to satisfy customer requirements and improve the service we offer. A key factor here is access to information on the history of our relationship with a customer and an overview of the services the customer currently uses in order to support additional sales and management of the individual customer relationship. We believe that Spakur, with its well-proven solutions already adapted for the Icelandic banking system, is the best tool for this purpose", states Gudmundur Gudmundsson, CTO of Landsbanki.
EDB Bank & Finance developed FD Front in the 1990s. The components that make up FD Front support a bank's working processes for sales and customer management, credit processing and everyday banking. These solutions are widely used by Norwegian banks, with over 12,000 users. In addition to the use of FD Front in Norway and Iceland, Swedbank has been using a customised version of the credit module since 2000.
"This contract confirms that our solutions offer functionality for the Nordic market since they can be readily adapted to the banking system in other countries. We have a clear ambition to sell these solutions to more banks in the Nordic countries", comments Ole Urdahl, Executive Vice President Bank & Finance in EDB.
Any enquiries may be addressed to:
Ole Urdahl, Executive Vice President Bank & Finance, EDB. Tel: + 47 22 52 82 60
Reidar Gjærum, Executive Vice President Corporate Communications, EDB. Tel: +47 908 55 101 EDB Business Partner is one of the leading suppliers of IT operations and software in the Nordic region. The company provides industry-leading total solutions in the areas of banking and finance, telecommunications and IT operations. EDB's objective is to contribute to its 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 and reported turnover of NOK 4.3 billion in 2003. EDB is represented in Norway, Sweden, the USA, England, Spain and Switzerland. EDB Business Partner ASA is listed on Oslo Børs with the ticker code EDBASA.
Landsbanki Islands (The National Bank of Iceland Ltd) is a leading Icelandic financial institution with total assets of ISK 278 billion (USD 3.4 billion). Landsbanki was first incorporated in 1885, making it the oldest full-service commercial bank in Iceland. The bank has1000 employees and operates 52 branches in Iceland as well as subsidiaries in London and Luxembourg.
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