Arion bank goes live on latest version of Calypso and already seeing benefits

25 June 2019

Arion Bank, a leading universal bank in Iceland and a Calypso user since 2008, has recently completed a major upgrade of the solution to bring it totally up to date with the latest release. The bank has also adopted Calypso’s new ‘continuous upgrade’ scheme, which is designed to significantly lower ongoing total cost of ownership (TCO) and accelerate time to value.

A key driver for Arion Bank was to make its FX Desk more agile and more responsive to customer enquiries. Having diligently upgraded through three Calypso versions over a period of months, Arion Bank is already seeing benefits from being on the latest version - and is keen to keep it that way.

The project was carried out by Brambolt Consulting, an Icelandic consultancy founded recently by two Calypso veterans, Arnfinnur Ottesen and Stefán Sigurðsson. Brambolt specializes in Calypso application lifecycle support and works closely with Calypso to support clients in the region.

Brambolt’s core value proposition is to lower Calypso customers’ TCO by evaluating and deploying new monthly software releases as part of a bank’s normal, business as usual (BaU), maintenance schedule. This is very much in line with changes being made by Calypso to its own software delivery policy with the introduction of officially supported monthly releases, designed to foster a continuous upgrade strategy among clients, helping them stay mainstream and reduce the burden of going through very large upgrade projects.

Comments Magnús Viðar Skúlason, Product Manager, Arion Bank:
“We have been working hard over the last twelve months to move up to the latest version of Calypso. The result has been beyond our greatest expectations and the new Calypso Task Station is greatly increasing our efficiency. The support from Brambolt has been a key element in getting us to this point and we look forward to working with them in the future to help us stay current on monthly releases at all times.”

Says Arnfinnur Ottesen, Managing Partner, Brambolt Consulting:
"This has been a major upgrade, involving the addition of new functionality along the way as well as ‘like for like’ replacement. I am delighted that Arion Bank is committed to evaluating and deploying new Calypso monthly releases on an ongoing basis, as part of the normal maintenance schedule, so eliminating the need for further costly and time-consuming traditional upgrade projects.”

Adds Laurent Jacquemin, Chief Customer Officer for Calypso:
"This has been a highly successful project for Arion Bank, well-supported by Brambolt, and I am pleased that the bank is already benefiting from the new functionality available. At Calypso, we have a strong commitment to continuously improve our customers’ experience. Our newly introduced monthly release delivery mechanism allows financial institutions to speed up their time to value, be more agile and reduce and greatly smooth their TCO.”

About Arion Bank
Arion Bank is a leading universal relationship bank in Iceland with a differentiated and innovative approach. Arion Bank is listed on the main lists of Nasdaq Iceland and Nasdaq Stockholm. Arion Bank is a broad and well-balanced bank that provides products and services which meet the needs of Icelandic households, companies and investors. To ensure it is well-balanced and diversified in its product and services offering and expertise, Arion Bank has organized itself across four dedicated divisions: Retail Banking, Corporate Banking, Investment Banking and Asset Management.

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