15 August 2023
Tietoevry is proud to announce its collaboration with The Savings Banks Group Finland to renew its lending platform, where Tietoevry’s Lending Suite, the leading credit solution in the Nordic markets, will serve as the foundation. 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.
The Savings Banks Group is taking steps to modernize its services and has chosen Tietoevry to replace its existing lending platform. This partnership is an important component in Savings Bank's ongoing renewal program, where Tietoevry has worked closely with Savings Banks Group and their partners in a pre-study phase to create a baseline for the lending renewal initiative.
This has laid the foundation for the lending renewal initiative aimed at enriching the bank’s offerings and solutions available to Finnish customers. With Tietoevry’s Lending Suite software as its backbone, the solution encompasses origination, life-cycle management, and collateral management for consumer and corporate financial products offered by the Savings Banks Group. The solution will be deployed in Microsoft Azure Cloud.
“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 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”, says Savings Banks Group CIO, Pekka Suomalainen.
The updated platform will enhance Savings Banks Groups digital offerings and operational efficiency by simplifying the existing business model and streamlining the product portfolio.
“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 trough this three-year-project securing a successful outcome”, says Pär Johansson, Head of Credit Solutions at Tietoevry Banking.
The agreement spans over ten years: an initial three-year setup followed by seven years of continuous services by Tietoevry. The project will start this fall and the systems will be implemented in stages by the end of 2026. Alongside Tietoevry, partners including Microsoft, Samlink, and twoday will be part of this transformative journey.
Tietoevry's Lending Suite is widely used by various banks and financial institutions in the Nordics and provides out-of-the-box support for the Finnish Market. Tietoevry’s Finnish Model Bank concept, an integral aspect of Tietoevry’s adopted implementation model, serves as a stable and versatile foundation for the implementation phase.
The Model Bank is a pre-configured, ready to use set up of the full solution which is delivered already at the beginning of the project. As part of the project, the Model Bank is then enriched and customized to accommodate for Savings Banks Groups’ specific needs and integrations. The implementation project also includes data migration from current systems to the Lending Suite.
Read more about the collaboration in Savings Banks Groups’ press release
For further information, please contact:
Tietoevry Newsdesk, tel. +358 40 570 4072, news@tietoevry.com
Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Nordic heritage and global capabilities. Based on our core values of openness, trust, and diversity, we work with our customers to develop digital futures where businesses, societies, and humanity thrive.
Our 24 000 experts globally specialize in cloud, data, and software, serving thousands of enterprise and public-sector customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com