Bonum Bank Plc Stock Exchange Release 24th January 2019 at 16:15 CET
Correction: Bonum Bank Plc: POP Bank Group renews its core banking platform
Correction: the transaction is conditional upon acceptance of Ministry of Economic Affairs and Employment of Finland, not Finnish regulatory and Financial Supervisory Authority as said before.
POP Bank Group selects Temenos T24 and Cognizant to transform its core banking technology onto a modern platform. The investment is one of the largest in POP Bank Group’s history. POP Banks are well known for having the most satisfied retail customers in Finland.
POP Bank Group renews its core banking platform together with Savings Bank Group and Oma Savings Bank Plc. The project starts in 2019 and completes in 2021.
Cognizant will design, implement and operate a shared core banking platform to enable digital transformation. As a part of the agreement, signed on 23rd of January 2019, Cognizant will acquire 100 % of Oy Samlink AB’s shares. The transaction has no impact on POP Bank Group’s financial result in 2019.
The transaction is conditional upon acceptance of Ministry of Economic Affairs and Employment of Finland.
‒ The new platform is an essential part of POP Bank Group’s simplification program. It builds a solid foundation for fully digital banking operations and improves significantly our operational efficiency and agility. Our goal is to provide seamless customer experience in every service channel, says CEO Pekka Lemettinen, POP Bank Alliance Coop.
CEO Pekka Lemettinen, POP Pankkiliitto osk Phone: +358 40
About the POP Bank group
The POP Bank Group is a Finnish financial group that offers retail banking services to private customers, small companies and agricultural and forestry companies, as well as non-life insurance services to private customers. In addition to healthy and profitable business, the objectives of the cooperative-based POP Bank Group emphasise the development of the customer experience.
Cognizant (Nasdaq-100: CTSH) is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era. Our unique industry-based, consultative approach helps clients envision, build and run more innovative and efficient businesses. Headquartered in the U.S., Cognizant is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world. Learn how Cognizant helps clients lead with digital at www.cognizant.com or follow us @Cognizant.