Tieto Banktech modernizes 90 Norwegian banks with its lending software

Following the merger of Tieto and Evry in 2019, the joint company has access to modern software products which accelerate the BaaP platform modernization. A strategic decision was to use Tieto’s cLA, which is a modern, established lending solution used by several banks and financial institutions in the Nordics.

The cLA solution provides product flexibility and enables efficient product management as well as increased efficiency through automation. The transition to cLA will support the banks’ future innovation and growth as well as smooth and efficient end customer experiences.

“We have a highly ambitious agenda for our lending business in Tietoevry Banking with a commitment to help Tier 1 and Tier 2 banks to modernize their legacy solutions. The agenda is pursued in parallel with our ongoing project engagements, where our aim is to facilitate the transition from an old mainframe solution with all challenges such as a limited integration platform, documentation and expertise. We are happy to leverage our insights and experience to the banking industry where most still have the modernization journey ahead,” says Marit Engh, Head of Credit at Tieto Banktech.

The roll-out of lending software will start with a pilot bank and is thereafter followed by a roll-out in clusters to perform the implementation as fast and efficient as possible. The rollout and implementation project includes configuration, set up of integrations and data migration for each bank.

The phased approach allows Tieto Banktech to continuously improve and automate the rollout process for each group of banks. The phased approach ensures a proven, controlled, validated and reliable rollout and allows banks to complete necessary preparations on their end.

“The distinctiveness of each bank group within BaaP requires a careful and thoughtful implementation approach from us,” says Engh.