The Savings Banks Group Finland has announced its collaboration with Tietoevry, as it looks to bolster its lending platform.
Tietoevry’s innovative lending solution is set to lay the foundations for The Savings Banks Group’s renewed lending platform, as the organisation aims to take steps to modernise its services.
This strategic partnership is part of a broader initiative by The Savings Banks Group to invest more than 100 million euros in shaping the future of its operations and creating the next generation IT solutions.
Tietoevry has been chosen to replace the company’s existing lending platform, due to the Finnish firm’s leading credit solution that dominates the Nordic market, in an investment described as the “largest in The Savings Banks Group’s 200-year history”.
Savings Banks Group CIO, Pekka Suomalainen said: “We are making the largest investment in our company’s more than 200-year history, which enables the best combination of personal and digital customer experience with focus on lending and customer management processes.
“Tietoevry has a proven track record of delivering lending solutions both in Finland and other Nordic countries for other banks.
“We have a strong belief in Tietoevry’s capability to deliver cloud-ready product solutions in co-operation with other Savings Banks Group partners to offer more fluent, transparent, and easier service to both our customers and employees. We are happy to plug in and hopefully boost the ecosystem with Tietoevry’s other lending customers.”
The updated platform will enhance Savings Banks Group’s digital offerings and operational efficiency by simplifying the existing business model and streamlining the product portfolio.
The agreement is set to span the next ten years, with an initial three-year deal, followed by seven years of continuous services by Tietoevry.
The project is expected to make its bow this autumn, and the systems will be implemented in stages until the end of 2026, when it will reach completion.
Pär Johansson, Head of Credit Solutions at Tietoevry Banking, said: “Once again, we prove that Tietoevry’s Lending Suite is the leading lending software in the Nordics.
“I’m very proud to embark on this journey with Savings Banks Group and it’s an important step into the future, with the deployment of the solution in Azure cloud.
“With our extensive expertise in lending and a great product, we will support Savings Banks Group through this three-year-project securing a successful outcome.”
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global
