TietoEnator and Handelsbanken continue the Baltic expansion together

26 November 2007

TietoEnator and Handelsbanken have agreed to continue close cooperation in the Baltic countries. TietoEnator will provide the bank a comprehensive core banking solution to support its new operations in Latvia and Lithuania.

Handelsbanken will open up for business in Latvia during the first quarter 2008 and in Lithuania later in 2008. TietoEnator's solution, BankSyst, will provide Handelsbanken the complete IT-solution needed for both retail- and corporate markets The cooperation in the Baltics was started in late 2005 when Handelsbanken chose TietoEnator's core banking solution for its Estonian operations. The new agreement further strengthens TietoEnator's position as the leading solutions and service provider within the banking and finance market in the Baltic region.

Harri Tuohimaa, head of Handelsbanken Estonia says: "We wanted a modern technology that was easy to use and the BankSyst solution fitted the bill perfectly. It has good user interfaces, is easy for our staff to use and allows us to add on features in the future. It saves us time, effort and money and we are pleased we are using this compact solution. BankSyst will also be a cost effective solution when Handelsbanken expands the branch network in Estonia."

Jaan Jakobson, marketing manager at TietoEnator Estonia, says: "We are pleased to expand our existing cooperation with Handelsbanken. The bank is known to set up high quality standards when choosing their business partners and we now look forward to serve the bank in the whole Baltics".

BankSyst is suitable for start-up banks and as a replacement for outdated systems for tier 3 and 4 banks. It's modern technology, flexible architecture and TietoEnators continuous support of the European banking standards makes it a very reliable and sustainable solution.

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