EDB sells commercial lending system to Nordic Investment Bank

Thursday 2 October 2003 22:44 CET | News

EDB Business Partner has signed a contract to provide Nordic Investment Bank with a lending system to be used in the banks lending operations. The contract runs for seven years and is worth some EUR 2 million.

EDB Bank & Finance supplies a core system customised for Nordic Investment Banks (NIB) lending activities and infrastructure as well as system implementation. The SysCon Lending System is developed by EDB as a complete and component based solution for both complex commercial lending and retail lending, and provides administration throughout the entire life cycle of a loan. The system is now used by a number of European and Norwegian banks and financial institutions. The major European customers are the Bank of Scotland, the Nationwide Building Society and Cheshire Building Society in the UK, Societe Generale in France, Alpha Bank in Greece and Danish Ship Finance (DSF). The Nordic Investment Bank (NIB), with headquarters in Helsinki, is a multilateral financial institution established and owned by the Nordic countries. NIB has financed projects in more than forty countries in various parts of the world since it began operating in 1976. NIB grants medium and long-term loans on competitive, commercial terms to both the private and public sectors for projects, which have high priority with the Nordic countries and the borrower. NIB finances investments concerning e.g. infrastructure, energy supply, industry and environmental improvements.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce