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April 6, 2005

SEB orders internet banking technology from EDB

Swedish financial services company SEB is offering internet banking products through software supplied by IT firm EDB.

By CBR Staff Writer

The contract will see the two companies collaborate to develop a new internet banking service that will replace an existing program currently used in SEB’s operations outside Sweden. The results of this initial implementation are thought to determine whether SEB may consider using the new software throughout its organization.

EDB said it will rationalize the development task by adapting and customizing SEB’s existing technology and components to meet the company’s requirements. It is expected to be deployed in November/December 2005.

This approach offers significant advantages for SEB in the form of a shorter development period and lower development costs, explains Conny Hjalmarsson, managing director of SEB IT.

The agreement represents a business volume of almost NOK 13 million.

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