| EDB and SpareBank 1 intensify their collaboration on digital banking solutions |
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(Oslo, 16 December 2008) SpareBank 1 and EDB have agreed to intensify their strategic collaboration and expand their joint development program for electronic/digital banking solutions. The new agreement is for extensive modernisation of the desktop interface used by employees at SpareBank 1. The agreement represents total contract value of NOK 100 million, and runs for 6 years. "This agreement underlines the value of the strategic collaboration between SpareBank 1 and EDB. The project will give employees of SpareBank 1 access to modern and process-efficient solutions, as well as allowing customers of SpareBank 1 to access the bank's services through a range of different channels", explains Endre Rangnes, CEO of EDB.
The contract provides for EDB to deliver components to modernise the desktop interface used by employees at SpareBank 1. It also includes a significant expansion of the range of self-service alternatives that SpareBank 1 offers its customers in the form of new solutions for lending products, increased security for customers' card details and the use of mobile telephony to distribute targeted information to customers.
SpareBank 1 will also take delivery of new solutions to simplify and improve the efficiency of everyday tasks for its customers and employees, and these solutions will in addition form the basis for interaction between customers and employees through digital interfaces.
The agreement represents total contract value of NOK 100 million, and runs for 6 years.
For further information, please contact:
Endre Rangnes, CEO, EDB. Tel: + 47 22 77 21 01
Kristian Kuvaas Johansen, EVP and CFO, EDB. Tel: + 47 476 03 334
Geir Remman, EVP - Corporate Communications, EDB. Tel: + 47 970 55 017
About EDB
EDB Business Partner is a leading Nordic stock exchange listed IT company. EDB delivers solutions that cover the entire range of business critical IT services from application services and industry-specific solutions through to IT operating services and network solutions. EDB is committed to being a close and responsive IT partner that helps its customers operate more efficiently and achieve their business objectives. EDB is represented in 13 countries, has some 6,000 employees, and its annual turnover is around NOK 8 billion. About SpareBank 1
SpareBank 1 is an alliance based on collaboration between 23 independent banks. The banks collaborate through their shared ownership of SpareBank 1 Gruppen AS, which carries out development projects and is the parent company of a financial group. SpareBank 1 Gruppen AS is owned by SpareBank 1 Nord-Norge (19.5 %), SpareBank 1 Midt-Norge (19.5 %), SpareBank 1 SR-Bank (19.5 %), Sparebanken Hedmark (12 %), Samarbeidende Sparebanker (19.5 %) and the Norwegian Confederation of Trade Unions (LO)/affiliated unions (10 %).
SpareBank 1 Gruppen, which was established in 1996, co-ordinates projects, manages the brand identity and operates jointly-owned product companies on behalf of SpareBank 1.
SpareBank 1 Gruppen AS is the parent company of a financial group that holds 100 % of SpareBank 1 Livsforsikring, SpareBank 1 Skadeforsikring, Bank 1 Oslo, ODIN Forvaltning and SpareBank 1 Medlemskort, as well as 90 % of Actor Fordringsforvaltning and 75 % of Argo Securities. The alliance also includes SpareBank 1 Boligkreditt and the EiendomsMegler 1 chain.
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