The Co-operative Bank has extended its IT mortgage admin and debt collection managed service contract with TietoEnator.
The five-year extension also includes an expanded remit for TietoEnator, which will now include hardware support. TietoEnator will provide 24-hour software and hardware support for both the admin and debt collection systems.
The contract will also include the implementation of TietoEnator’s Mortgage Sales Portal and Clearview, with this project due for completion by the end of 2007.
TietoEnator has provided Co-operative Bank with a managed service for software support since the bank re-entered the UK mortgage market six years ago.
“We renewed and extended our contract with TietoEnator following the recommendations of analyst Forrester, who assisted us in scoping out the project and researching the marketplace,” said David Dunlop, head of mortgage operations at Co-operative Bank.
“TietoEnator has been a trusted supplier for a number of years and we look forward to moving ahead with an enhanced maintenance contract and additional solutions.”
The bank expects to see a number of benefits once the new infrastructure and solutions are in place.
“Visibility to IT costs over the next five years, TietoEnator’s transparent pricing structure, strict service level agreements, and 24-hour support are compelling reasons for selecting this managed service model,” said Dunlop.
Data security was also a significant consideration for the bank, with the proposed infrastructure changes and a move from in-house servers to TietoEnator servers.
A comprehensive security audit was conducted by the bank and the new infrastructure will include encrypted routers, firewalls and a dedicated secure line for Co-operative Bank data.
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