Nordea has signed a ten year software and services contract with EDB Fellesdata for its Norwegian card activities, worth up to Nkr55.5 million.
Under the agreement, Nordea will purchase the vendor's international Micos self-service system and related operating services. The agreement, which extends an existing contract with EDB, is on an annual basis with automatic renewal for up to 10 years. Contract value for the first year is Nkr10.5 million, and Nkr5 million yearly for the following years.
The Micos system will enable the banking group to receive transactions from self-service units (mini banks and ATMs) and provide administration for these units. The system also includes an international interface and customer billing, and is compliant with smartcards using the new international standard (EMV standard) chosen by international card companies.
As part of the agreement Nordea has an option to purchase the system for overseas units.
Ole Trasti, managing director of EDB Fellesdata, says the agreement will pave the way for additional business with other parts of the Nordea Group.