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December 10, 2006

EDB, Swedbank sign new long-term IT services contract

Swedbank has signed a five year, NOK35 million contract with EDB for the provision of a range of banking services for its Norwegian operations.

By CBR Staff Writer

The agreement forms part of Swedbank’s plans to increase its presence in the Norwegian market. So far the bank has concentrated on serving larger corporate clients as well as banks and other financial institutions in Norway. It is now going to focus on growth in both the commercial and retail banking markets, which places new and greater requirements on the bank’s internal and external IT solutions.

Under terms of the contract, EDB will provide internet banking related services for the retail banking market, debit cards, staging and data warehousing, branch office applications, multi-channel dissolution services and SLS (syscon lending system). In addition to these and other products, EDB will continue to provide existing services in the areas of core banking, foreign exchange and internet banking for the corporate market.

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