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EVRY wins contract to provide payment services for four banks

Norwegian information technology firm EVRY has secured a contract worth about NOK1.2bn ($161m) to provide payment services for four banks.

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The five-year contract will see EVRY deliver services to Sparebanken Sør, Sparebanken Sogn og Fjordane, Helgeland Sparebank and Gjensidige Bank.

The banks, which have operated a formalized procurement collaboration since 2009, have about 500,000 retail and corporate customers.

The deal, which also includes renewal of the banks’ core banking and payment areas, starts on 1 January 2015 and runs until 31 December 2019. It includes an option to extend for additional two years.

EVRY said the contract continues the existing collaboration on a complete portfolio of banking solutions that will support the four banks, which intend to develop the best digital solutions in the market.

Earlier in 2014, EVRY signed similar contracts with the SpareBank 1 Alliance and Sparebanken Vest.

The contracts together represent total contract value of about NOK4bn ($538m).

EVRY CEO Terje Mjøs said: "Our collaboration with these four banks has developed over many years, and we are very proud to have received a renewed vote of confidence from them.

"This is an important milestone in our strategic investment in developing and delivering next generation core banking and payment solutions.

"The three contracts we have entered into in 2014 for next generation core banking and payment solutions confirm that the solutions we offer are very competitive."

Image: EVRY secured a contract to provide payment services for four banks. Photo: Courtesy of EVRY.