The UK's Derbyshire Building Society has signed a contract, worth £3 million, with Siemens Business Services for the supply and implementation of Financial Object's activebank technology.
Financial Objects secured an activebank reseller agreement with Siemens in Februray this year. The companies have formed a joint project delivery team to design, develop and implement the software.
The Derbyshire will replace its existing mainframe application with the activebank platform, which will be used to handle all core business functions for transaction processing and management of accounts and products. The Derbyshire deal would appear to be the contract anonymously disclosed as one of the highlights of Financial Objects recent financial statements made some three weeks earlier.
John Gaunt, IT director at Derbyshire Building Society, comments: "As well as finding the right software solution, we had to identify an implementation partner with a solid track record in this type of critical work and one in whom we could have absolute confidence."
Commenting on the deal, Peter Watts, director, activebank division, Financial Objects, says: "Securing this piece of business vindicates the approach of specialist software providers working alongside major systems integrators, such as Siemens."