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EVRY Inks Five-Year Core Banking Agreement with Fana Sparebank

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Core banking and payments are part of the “complete portfolio of solutions” Norway’s EVRY will provide Fana Sparebank as part of a new, five-year partnership. The agreement, eligible for a two-year extension in 2022, is designed to help modernize Fana Sparebank’s offerings to its customers, including an upgrade of the bank’s self-service solutions. Lisbet K. Nærø, CEO of Fana Sparebank, pointed to self-service specifically in talking about the new partnership in a statement. “We want to be where our customers are and to satisfy their requirements, whether in terms of technology, their choice of channel or the time at which they want to use our services,” Nærø said. “It should be easy to be a customer with us.”

With partnerships already forged with SpareBank 1 – an alliance of Norwegian savings banks which, combined, represent the second largest bank in the country ($73 billion in assets, NOK 625 billion) – EVRY has a significant impact on banking in the Nordic region. EVRY has also partnered with Sparebanken Vest (Norway’s third largest savings bank), and other Norwegian banking alliances, with contracts valued at $730 million (NOK 6,240 million). “EVRY has big ambitions for the Nordic market,” EVRY EVP for Financial Services Wiljar Nesse said. “These agreements demonstrate that our solutions are competitive and address the needs of large banks and independent banks alike.”

Founded in 1962 (as “EDB) and based in Oslo, Norway, EVRY demonstrated its PFM technology, Spendific, at FinovateEurope 2011. The company announced an expansion of its partnership with IBM in December, as well as a strategic agreement with Handelsbanken Norway valued at $82 million (NOK 700 million) over the next five years. Björn Ivorth is CEO.