Under the terms of the agreement, the contract will have a lifetime of seven years. EDB will deliver standard components for cards and payments, and will report to the authorities. In addition, EDB will supply a general customer account ledger system based on Flexcube from I-flex.
This is an international breakthrough for EDB’s solutions portfolio, and demonstrates that our strategy for the banking and finance market is proving successful. GE Money Bank is a large and exciting player in the international banking market, and this agreement opens the door to long-term collaboration with the bank in the European market in a number of areas, commented Endre Rangnes, CEO of EDB.
In autumn 2005, EDB and I-flex agreed to collaborate as preferred partners for the Nordic region, and this contract represents a breakthrough for this collaboration.
