SpareBank 1 adopts EDB payment solutions

Norway's SpareBank 1 has signed a contract for EDB Business Partner to supply web-based payment solutions for corporate customers. The contract which runs to the end of 2007 is worth some NOK 15 million.

Norway's SpareBank 1 has signed a contract for EDB Business Partner to supply web-based payment solutions for corporate customers. The contract which runs to the end of 2007 is worth some NOK 15 million.

"We are implementing a modernisation of our portal solution to strengthen and extend services for the corporate market," explains Eivind Gjemdal, Executive Vice President for IT at SpareBank 1.
"Online banking for companies requires a complex solution which must manage authorisation structures, international transfers and financial information for our business clients. At the same time, this service must be user-friendly for the small and medium-sized enterprise market."
 
Under the new agreement, EDB will deliver solutions for payments and financial information in the online bank provided to SpareBank 1's corporate customers. These solutions will be linked to the bank's web portal, replacing the existing company terminal solution with new and expanded functionality based on web technology.
 
The value of the contract, roughly NOK 15 million, will be booked in EDB Bank & Finance over a three-year period.
 
"This agreement has been secured in competition with other players," comments Ole Urdahl, Eexecutive Vice President for Bank & Finance in EDB. "It confirms our position as a supplier of modern payment solutions. Our products for the corporate market are component-based and can be integrated with bank portals and other systems."