Resurs Bank is investing in a new fully cloud-based banking platform that creates the preconditions to provide customers and partners with cutting-edge services, interfaces and products. Global fintech company Intellect Design Arena will provide the new platform. Resurs’ investment in this IT transformation amounts to around SEK 500 million, part of which is Intellect’s cloud solution.
Intellect Design Arena, one of the world’s leading providers of financial platforms, will become a supplier of Resurs. By investing in a new, fully cloud-based platform, Resurs will be able to meet the growing demand from customers and partners for user-friendly and scalable solutions and services in an entirely new way.
Smart technology and an API-based cloud-based system will create the prerequisites for customers and partners to have real-time access to personalized self-service applications, giving Resurs the ability to further optimize their processes. and create scalable operations.
“The demands and expectations of customers and partners for user-friendly and customer-friendly services and products are high. The new platform will provide us with the strength and opportunity to accelerate our innovation, product development and time-to-market processes, aspects that customers and partners of today and tomorrow demand and require. By applying modern technology and through close collaboration with Intellect, we can more quickly meet consumers and retailers in the Nordic market with industry-leading payment and financing solutions, with the ultimate goal of providing a fantastic real-time customer experience, for example, in subscription solutions and other circular finance solutions which we believe are becoming increasingly important, ”said Nils Carlsson, CEO of Resurs Bank.
Resurs thus strengthens its position as an innovative company in payment and financing solutions on the Nordic market. The cloud-based banking platform integration development work is to begin now and is expected to be completed within the next three to four years. The aim is to gradually launch parts of the new banking platform into operations. The investment will be capitalized on the balance sheet, which is why only a limited impact on the result is expected during the implementation phase. Once the implementation is complete, the investment is expected to generate positive net effects. In terms of cash, the investment is made on a current basis.
“Since the start of the transformation process last fall, intense work has been underway to assess the various potential suppliers of a new central banking system and to ensure that the project has the right prerequisites and organization. before the implementation phase. Now is the time to deliver innovative products and services with a long-term perspective to create fast, easy and secure customer experiences in all of our markets. When this is done, we will have a fully modern, technology-driven bank in terms of our core systems, ”said Sebastian Green, CIO of Resurs Bank.
“Resurs is an innovative company with a strong position in the Nordic retail market and it is therefore particularly pleased that Resurs has chosen Intellect Design Arena for its new banking platform. We look forward to benefiting from everyone’s expertise, ”says Rajesh Saxena, CEO, Retail Banking, Intellect Design Arena.
The agreement with Intellect Design Arena will be reported to the Swedish Financial Supervisory Authority.
More information will follow on Resurs Capital Markets Day
Resurs Bank will present more information about the partnership with Intellect and the main banking platform at Resurs Capital Markets Day on September 29.
This information is information that Resurs Holding AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. The information has been submitted for publication, through the contact person indicated above, on September 16, 2021 at 3:00 p.m. CEST.
Facts about Intellect Design Arena
Intellect Design Arena Ltd., a global leader in the application of true digital technology, is the world’s leading financial technology company that covers all banking and insurance needs with its broad product line. It does this through its four businesses: Global Consumer Banking, iGTB (Global Transaction Banking), Risk, Treasury and Markets and Insurance Software. With more than 25 years of deep expertise in the field, today Intellect is a brand that progressive financial institutions turn to for their digital needs and for digital transformation initiatives. Intellect generates annual revenues of over $ 208 million, serving over 200 clients through offices in over 90 countries. For more information about the company and the different solutions it offers, please visit https://www.intellectdesign.com/.
About Resurs Holding
Resurs Holding (Resurs), which operates through subsidiaries Resurs Bank and Solid Försäkring, is the leader in retail finance in the Nordic region, offering niche payment solutions, consumer loans and insurance products. Since its inception in 1977, Resurs Bank has established itself as a leading partner for sales-driven payment and loyalty solutions in retail and e-commerce, and Resurs has thus built a customer base of approximately 6 million private customers in the Nordic countries. Resurs Bank has had a banking license since 2001 and is under the supervision of the Swedish Financial Supervisory Authority. The Resurs group is present in Sweden, Denmark, Norway and Finland. At the end of the second quarter of 2021, the Group had 735 employees and a loan portfolio of SEK 31.1 billion. Resurs is listed on Nasdaq Stockholm.
Resurs Holding AB (publ) published this content on September 16, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 16, 2021 01:21:08 PM UTC.