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November 26, 2009

EDB Signs Agreement With Sparebanken Vest

To deliver solutions for both retail and corporate customers in the banking and finance market

By CBR Staff Writer

Sparebanken Vest, a Norway-based savings bank, has entered into an agreement with EDB Business Partner, an IT group in the Nordic region, for the purchase of product solutions and operating services for the bank’s activities. Under the terms of the agreement, EDB will be responsible for delivering solutions and operating services to Sparebanken Vest through to 31 December 2014.

EDB has been the bank’s supplier of these services for a number of years and the new agreement is a continuation of the current collaboration between the two parties. The agreement represents total contract value through to the close of 2014 of NOK500m.

EDB and Sparebanken Vest are committed to facilitating extensive collaboration and interaction throughout the contract period. This will include giving the bank the opportunity to influence the development of EDB’s new and forward-looking solutions, and to implement these solutions at an early stage. At the same time, EDB’s development work will benefit from its close understanding of the bank’s future requirements in relation to different types of user of the bank’s solutions and services.

Wiljar Nesse, EVP of bank & finance at EDB, said: Sparebanken Vest is a very important customer and business partner for EDB, and I am delighted that the bank has confirmed its confidence in us by renewing our co-operation for a further five years. We will do our utmost to ensure that Sparebanken Vest is able to continue to deliver high quality and competitive solutions for its customers and employees in the years ahead.

This contract provides continuing support for EDB’s position as the leading Nordic vendor of IT solutions and services for the banking and finance sector. I look forward to the further development of our strategic collaboration with Sparebanken Vest on the development of the solutions of the future for both retail and corporate customers in the banking and finance market.

Jan Erik Kjerpeseth, deputy MD of Sparebanken Vest, said: When selecting our supplier we attached particular importance to having access to a complete solutions portfolio, and to reliable and stable operating services. We intend to continue to develop the collaboration between Sparebanken Vest and EDB, based on openness and mutual confidence. This will in turn ensure that Sparebanken Vest enjoys the benefits of flexibility and rapid time to market.

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