EVRY and SpareBank 1 sign a long-term contract
June 11, 2014 - London
(Oslo, 11 June 2014) The SpareBank 1 Alliance has signed a comprehensive agreement with EVRY for the purchase of IT services. The agreement represents total contract value of NOK 2.0 billion, and runs for 4 years, with an option to extend for a further 2+2 years.
"Our ability to provide reliable and secure services for our customers while at the same time making use of new technology is of crucial importance for our position as a leading banking alliance. The contract with EVRY is an important component in this respect. The contract covers the core banking area together with a number of related functions, and ensures that the alliance has access to cost-effective IT services, while at the same time the contract focuses on renewal and improved quality to ensure reliable operations", explains Eivind Gjemdal, Alliance EVP - IT, SpareBank 1.
"I am delighted by the confidence that the SpareBank 1 Alliance has demonstrated in EVRY. We have invested heavily in technical upgrades of our banking solutions and software to ensure a continuous focus on improving quality standards. EVRY is committed to delivering efficient solutions and reliable operating services to ensure that our banking customers provide reliable access to banking services for their own customers and employees", comments Terje Mjøs, CEO of EVRY.
EVRY is now launching the next generation of solutions for core banking and payment services, and the SpareBank 1 Alliance will be the company's first customer. The solutions are fully adapted for international markets, and satisfy market requirements for simplification, flexibility and cost efficiency.
"With this new generation of innovative solutions, EVRY will contribute to the renewal of the SpareBank 1 Alliance's banking services. This is an important breakthrough for EVRY. The new solutions represent a sound platform for continuing Nordic growth in the years ahead", comments Terje Mjøs.
Meeting the requirements of the future
EVRY's new solutions are based on state-of-the-art architecture and standards, including ISO 20022. The solutions have been developed by a team made up of resources from the Nordic countries and from EVRY's operations in India.
Through this renewal, the SpareBank 1 Alliance will benefit from a streamlined and flexible infrastructure that delivers faster time-to-market for new services. The new component-based solutions portfolio gives EVRY a strong value offer that represents significant growth potential.
About the contract
The new contract, which replaces the current agreement, comes into effect on 1 January 2015 and runs to 31 December 2018. The SpareBank 1 Alliance has the option to extend the contract by a further 2+2 years.
This information is subject to disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
Terje Mjøs, CEO EVRY, Tel: +47 06500
Wiljar Nesse, EVP Financial Services, EVRY, tlf +47 934 48116
Eivind Gjemdal, Alliansedirektør IT i SpareBank 1, tlf +47 915 32 218
Geir Remman, VP Corporate Communications, EVRY, tlf +47 970 55017
EVRY is one of the leading IT companies in the Nordic countries, with a strong local and regional presence in 50 Nordic towns and cities. Through its knowledge, solutions and technology, EVRY contributes to the development of the information society of the future, and so creates value for the benefit of its customers and for society as a whole. EVRY combines in-depth industry knowledge and technological expertise with a local delivery model and international strength.
EVRY has some 10,000 employees, and the company is committed to demonstrating that Nordic customers are best served by a supplier that understands Nordic business from the inside. EVRY reports annual turnover approaching NOK 13 billion. The company is listed on the Oslo Stock Exchange and operates from headquarters at Fornebu in Bærum, with major activities in both the Norwegian and Swedish markets.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: EVRY via Globenewswire