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Aktia Oyj Modernizes General Banking Systems and Terminates Services as Central Credit Institution for Savings- and POP Banks

Tuesday, 29 Jan 2013 06:00am EST 

Aktia Oyj (Aktia) announced that it modernizes its general banking systems and terminates its services as central credit institution for savings banks and POP Banks. In accordance with the Company's Action plan 2015, Aktia invests in a modern system for general banking. For Aktia, the costs of the investment, including migration from the old system, corresponds to IT (Information Technology) expenses for one year, that is EUR 25 million. A modern system for general banking enables more efficient processes and lower operating expenses. The new system is expected to be in use in 2015. In the financial statements for 2012, Aktia includes provisions of approximately EUR 6 million for migration from the old system. The provisions have no impact on the Company's earlier presented outlook for 2012. The role as central credit institution following new regulation, Basel III, would be a burden for Aktia, both in the respect of profit and liquidity. Therefore, Aktia will not invest in new technique to carry on as central credit institution, but does, together with the savings banks and POP Banks, phase out the services provided to be terminated at the beginning of 2015. The migration to the new system for general banking is made in close collaboration with the current IT operator Samlink. The change has no effect on Aktia's, the savings banks' or POP Banks' customer service, nor on the terms of the services. 

Company Quote

-0.06 -0.63%
19 Dec 2014