Glitnir
Bankis adoptingEDB's ELS lending platformto improve
the performance and accountability of its
transactions.
The implementation is part of a programme to build a growth
platform for the bank's internal IT systems following a period of
mergers and acquisitions in the Nordic region.
Glitnir aims to implement ELS in Iceland and its UK subsidiary
by the end of March this year before rolling the system out to its
offices in other countries.
Initially, ELS will replace Glitnir's internal back-office
systems for managing
syndicated and bilateral loans, enabling the bank to gear up
for future growth and expand into new geographical markets. The
system will also support Glitnir's participation in larger, more
complex syndicated lending deals.
"In light of regulatory requirements such as
Basel II, it is
vital to implement effective business controls to achieve
compliance," said Páll Kolka Ísberg, managing director for shared
support office at Glitnir.
"EDB's corporate lending solution will allow us to capture data
in a more efficient manner.
"In addition, we can provide our customers with enhanced levels
of accountability, traceability and user-friendliness, which is in
line with our overall growth plans."
Banking platform rollouts:
Bank of East Asia >>
Alliance & Leicester >>
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