The large-scale transformation will provide Norwegian Banks operating through Banking as a Platform a future-ready lending software. It supports innovation, digital services, efficiency & compliance
Head of Credit & Wealth, Tietoevry Banking
90 Norwegian banks that operate through the Banking as a Platform (BaaP), delivered by Tietoevry Banking, are modernizing their lending software with Tietoevry Banking’s strategic Credit Loan Administration solution (cLA). These banks cover for more than 50% of the Norwegian banking market.
Following the merger of Tieto and Evry in 2019, the joint company has access to modern software products which accelerate the BaaP platform modernization. A strategic decision was to use Tieto’s cLA, which is a modern, established lending solution used by several banks and financial institutions in the Nordics.
The cLA solution provides product flexibility and enables efficient product management as well as increased efficiency through automation. The transition to cLA will support the banks’ future innovation and growth as well as smooth and efficient end customer experiences.
Tietoevry Banking has a proven track record of cLA implementation projects and is one of the major Nordic lending software providers delivering double digit growth. In 2023, the company signed a long-term contract with one of Finland’s leading bank groups, the Finnish Savings Banks Group, including 14 banks to modernize their end-to-end lending solution and processes.
“We have a highly ambitious agenda for our lending business in Tietoevry Banking with a commitment to help Tier 1 and Tier 2 banks to modernize their legacy solutions. The agenda is pursued in parallel with our ongoing project engagements, where our aim is to facilitate the transition from an old mainframe solution with all challenges such as a limited integration platform, documentation and expertise. We are happy to leverage our insights and experience to the banking industry where most still have the modernization journey ahead,” says Pär Johansson, Head of Credit at Tietoevry Banking.
The roll-out of lending software will start with a pilot bank and is thereafter followed by a roll-out in clusters to perform the implementation as fast and efficient as possible. The rollout and implementation project includes configuration, set up of integrations and data migration for each bank.
The phased approach allows Tietoevry Banking to continuously improve and automate the rollout process for each group of banks. The phased approach ensures a proven, controlled, validated and reliable rollout and allows banks to complete necessary preparations on their end.
“The distinctiveness of each bank group within BaaP requires a careful and thoughtful implementation approach from us,” says Pär Johansson.
“We have a highly ambitious agenda for our lending business in Tietoevry Banking with a commitment to help Tier 1 and Tier 2 banks to modernize their legacy solutions. The agenda is pursued in parallel with our ongoing project engagements, where our aim is to facilitate the transition from an old mainframe solution with all challenges such as a limited integration platform, documentation and expertise. We are happy to leverage our insights and experience to the banking industry where most still have the modernization journey ahead,” says Pär Johansson, Head of Credit at Tietoevry Banking.
Want to hear more? Please, contact Pär Johansson for a presentation of Tietoevry Banking’s lending software – the Lending Suite covering loan origination, lifecycle management and collateral management.
The Savings Banks Group to renew its lending platform in collaboration with Tietoevry