OMA SAVINGS BANK PLC, STOCK EXCHANGE RELEASE 23 JANUARY 2019 AT 9.45 A.M. EET
Oma Savings Bank Plc is implementing a new banking platform with Temenos technology with Cognizant and at the same time sells its ownership of Oy Samlink Ab to them
Oma Savings Bank Plc (OmaSp) has today chosen Cognizant as its strategic IT partner. OmaSp sells to Cognizant Technology Solutions Finland Oy its 15.45% holding in the current IT services provider Oy Samlink Ab together with the Savings Bank Group, Aktia Bank Plc, Handelsbanken, Posti Group Plc, POP Bank Group and other minority shareholders. The completion of the transaction still requires the approval of the regulators. At the same time, OmaSp has signed an agreement with Oy Samlink Ab to develop a new banking platform based on the Temenos T24 and Temenos Payment Hub softwares, and a 10-year service agreement for production and maintenance of basic banking services. The delivery price for the banking platform is about EUR 20 million for OmaSp.
The transaction will result in a capital gain of approximately EUR 4.3 million, which will have an impact on OmaSp's result for the financial year 2019.
Pasi Sydänlammi, CEO of OmaSp, commented: "I am pleased that the long-term planning and negotiation phase has been completed. We are confident to start developing a new banking platform that will enhance our operations and processes and improve our competitiveness and cost efficiency. The chosen banking platform based on Temenos technology is the best solution for us, because it’s already used as a banking system in Finland. Samlink has a profound knowledge of the Finnish banking sector and of us as a bank. Cognizant as a new owner adds the necessary top excellence to the development of the banking platform and technology. For customers, this will mean new products and services faster than before in the future, i.e. a better service experience in branches, mobile and online banking.”
Oma Savings Bank Plc
Additional information: Pasi Sydänlammi, CEO, tel. +358 45 657 5506, pasi.sydanlammi@omasp.fi Additional information and interview requests for media: Minna Sillanpää, CCO, tel. +358 50 66592, minna.sillanpaa@omasp.fi
DISTRIBUTION Nasdaq Helsinki Ltd Major media www.omasp.fi
OmaSp in short
OmaSp is a growing Finnish bank and the largest savings bank in Finland based on total assets. Over 270 professionals provide nationwide services through OmaSp’s 40 branch offices and digital service channels to approximately 135,000 customers. OmaSp focuses primarily on retail banking operations and provides its clients with a broad range of banking services both through its own balance sheet as well as by acting as an intermediary for its partners’ products. The intermediated products include credit, investment and loan in-surance products. OmaSp is also engaged in mortgage banking operations.
OmaSp core idea is to provide personal service and to be local and close to its customers, both in digital and traditional channels. OmaSp strives to offer premium level customer experience through personal service and easy accessibility. In addition, the development of the operations and services is customer-oriented. The personnel is committed and OmaSp seeks to support their career development with versatile tasks and continuous development. A substantial part of the personnel also own shares in OmaSp.
