The group consists of eleven regional cooperative banks based in Germany.
A letter of intent has been signed, and the contracts are expected to be signed in H1 2019.
The deal will see the seven banks replacing their legacy technology with Sopra Banking Platform, a core banking system supplied by Sopra Banking Software (Sopra Steria’s banking tech subsidiary).
Back in 2013, Sopra Banking Software acquired the banking operation of COR&FJA, a German domestic core banking business, for EUR 13 million.
The transaction included around 100 staff and the Corbas core banking solution. It is understood the Sparda banks were among the users of Corbas. Honda Bank, Deutsche Hypothekenbank, BMW Bank and Bankhaus Neelmeyer AG were also using Corbas at the time of the acquisition.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.