TietoEVRY enters into a strategic agreement with Eika Alliance

By Megha Bhattacharya

TietoEVRY today entered into a strategic agreement with Norwegian bank Eika Alliance. The agreement focuses on the delivery of next-generation core banking and payment solutions, including card services and digital channels. The agreement comes into effect on 18 December 2020 and runs for five years from when all the Eika banks have migrated to TietoEVRY.

“…The agreement will strengthen the Eika banks’ long-term competitiveness through significant cost efficiencies, stronger development capabilities, and greater strategic flexibility. This will strengthen our opportunities in terms of continuing to be a positive driving force for growth and progress for our customers, employees and local communities”, commented Hans Kristian Glesne, the Chair of the Board of Eika and the CEO of Skue Sparebank.

TietoEVRY stated that the transition to the new solution will take place step-by-step, with all the Eika banks due to be operating on the new platform by mid-2023.

“The fact that the local banks in the Eika Alliance haven chosen TietoEVRY as their strategic partner for next-generation digital banking services represents a significant vote of confidence in our company. The agreement shows that our solutions are adapted to the requirements of the digital bank of the future and the associated need for extensive user friendliness and quality delivered both securely and efficiently. The agreement provides us with a good basis for further growth in the years ahead”, commented Christian Pedersen, Managing Partner for TietoEVRY Norway.

This year, Swedbank revealed the selection of European hi-tech company SIA and TietoEVRY in a bid to enable instant payments through EBA Clearing’s pan-European system RT1.

Recently, the company announced that it has entered into a long-term agreement to provide Nordea with a state-of-the-art card service (SaaS) that includes card issuing and processing as well as a dispute process for Norway and Sweden. Nordea will be able to simplify its administration, card processing and management of claims and standardise its deliveries across countries, while its customers will benefit from simpler access to new, future-oriented card functionality.

“This agreement will help strengthen the Eika Alliance’s competitiveness, and its local banks will gain customer-centric solutions that will make them even closer and more relevant to their customers. Our ambition as a leading provider in the Nordic market is to help the Eika banks to make the most of the opportunities associated with open, modular and scalable banking software, with services and connected ecosystems”, commented Christian Segersven, Head of Financial Services Solutions at TietoEVRY.