Sweden's Coop Bank has signed a $7 million outsourcing contract with SchlumbergerSema, covering the management and operation of its central information technology platform.
Under the deal, SchlumbergerSema will provide archive solutions, output services, server operation and hardware to the bank, in addition to creating an interface between the organisation's post office, bank and benefit cheque cashing services. The agreement also provides for the operation of the bank's payment card systems.
Thomas Idermark, managing director, The Coop Bank, notes: "We are now in the position to concentrate on our core business of banking and on the marketplace in general...Efficient, well managed outsourcing is critical to our success."