Finland-based Savings Banks Group plans to invest more than €100m in digitalisation over the next five years to facilitate the seamless integration of in-person and digital services.
As part of its extensive business development project, the banking group has signed cooperation agreements with multiple partners, including Tietoevry, Samlink, Microsoft, and twoday.
Savings Banks’ Union Coop CEO Karri Alameri said: “We are launching the largest investment in our company’s over 200-year history to enable us to react more quickly to changes in customer needs.
”However, this is not merely an IT project, but rather a business renewal effort across all of the banks of the Savings Banks Group that will lead to smoother daily life for both customers and our employees.”
Through the collaboration with Tietoevry, Savings Banks Group will renew its lending platform by leveraging the former’s lending suite as the foundation.
The new solution, which will be deployed in Microsoft Azure Cloud, will cover origination, life-cycle management, and collateral management for consumer and corporate financial products offered by the Finnish banking group.
Besides, the updated platform will improve Savings Banks Group’s digital offerings as well as operational efficiency by streamlining the current business model and optimising the product portfolio.
Savings Banks Group’s agreement with Tietoevry spans over 10 years with an initial three-year setup and then seven years of continuous services.
Samlink, a subsidiary of IT infrastructure services provider Kyndryl, has signed a three-year agreement to transform Savings Banks Group’s IT environment.
Through the collaboration, Samlink, along with Kyndryl, aims to support the Finnish banking group’s new and major multi-vendor IT modernisation initiative.
Samlink will serve as Savings Banks Group’s critical implementation and integration partner. It will integrate the systems into the existing environment and will be responsible for providing continuous services in the Azure cloud environment in association with Solita. Twoday will be responsible for implementing Savings Banks Group’s customer relationship management system, which will be built upon Microsoft Dynamics 365 technology.
