EDB signs minibank contracts with 16 savings banks

Each of the banks has entered into a separate contract, and all the contracts run for two years. The agreements represent total business volume of around NOK 13 million. EDB Bank & Finance will book NOK 10 million of the total business volume, while EDB IT Operations will book NOK 3 million. The 16 savings banks that have signed contracts with EDB are Sparebanken Hedmark, Sparebanken Rana, Sparebanken Sogn & Fjordane, Sparebanken Sør, Etne Sparebank, Flekkefjord Sparebank, Haugesund Sparebank, Hegra Sparebank, Kvinnherad Sparebank, Lillesand Sparebank, Luster Sparebank, Sauda Sparebank, Skudenes & Aakra Sparebank, Sparebanken Hardanger, Søgne & Greipstad Sparebank and Tingvoll Sparebank. EDB Bank & Finance will supply a system that receives card transaction information from the banks minibanks and ATMs and provides an interface to card networks and the banking system. The system selected by the 16 banks includes certificated functionality to handle international smartcard transactions using the international EMV standard established by Europay, MasterCard and Visa to reduce card misuse and fraud. EDB IT Operations will supply the operating services element of the contracts.