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Norway : EVRY and Sparebanken Vest enter into strategic agreement

July 2, 2014

EVRY and Sparebanken Vest have entered into a strategic agreement for a 5-year period. The agreement is intended to meet the challenge of today's dynamic market, characterised by banking customers who want new and innovative services that are simple, quick, and easy to use. The agreement represents total contract value of NOK 800 million.

EVRY will provide next generation core banking and payment solutions to Sparebanken Vest. In addition, EVRY will work as a partner with Sparebanken Vest on its program to renew and strengthen further its focus on digital banking services.

"Providing simple, accessible and user-friendly banking services based on stable and secure operations is an important part of ensuring that Sparebanken Vest is able to offer a good customer experience. The new collaboration agreement we have entered into with EVRY today is an important contribution to meeting our customers' expectations. The agreement will meet Sparebanken Vest's need for improved quality for its IT deliveries, and will also give the bank access to new, innovative and future-orientated banking solutions", comments BjØrg Marit Eknes, Director of Business Support and Development at Sparebanken Vest. She goes on to say that EVRY's next generation core banking and payment services is a strategically important choice to ensure that Sparebanken Vest will have a flexible and cost-efficient infrastructure.

"I am very pleased that over the next 5 years we will be continuing and deepening the excellent relationship we have with Sparebanken Vest. EVRY will be an active partner in the vigorous renewal program that Sparebanken Vest has planned for its banking services for the coming years. EVRY is now launching its next generation core banking and payment solutions, and this agreement serves to confirm that EVRY has a competitive value proposition with the potential for growth in the Nordic market", comments Terje MjØs, CEO of EVRY. He also points out that with today's agreement, EVRY has now signed up two of its largest banking customers for this new generation of services.

An industry-standard service platform EVRY is establishing its core banking system for the future as a service platform using industry-standard components. The transition will be achieved through the planned step-by-step adoption of a defined architecture. This approach to implementation ensures a controlled transition to a state-of-the-art and cost-effective platform. EVRY's development strategy and implementation methodology are firmly based on the company's close involvement in the Banking Industry Architecture Network. EVRY is the only Nordic member of this network. EVRY's new payment solution applies state-of-the-art architecture that is based on ISO 20022.

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Source: TendersInfo (India)

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