AL Sydbank has chosen Bankdata as the new major bank’s primary IT provider. Bankdata is not a profit-driven company but is owned by seven Danish banks to improve IT efficiency. As the ownership group expands with additional or larger members, all owners benefit from lower unit costs for IT services.
“Sydbank has always been an integrated part of Bankdata, so we are pleased that AL Sydbank has chosen our datacentral as the continuing one. This gives the financial institutions on Bankdata a very strong competitive position,” says Chairman of Bankdata and CEO of Ringkjøbing Landbobank, John Fisker.
“AL Sydbank’s choice of datacentral comes after the group of owners launched an ownership strategy for Bankdata with the aim of a strong community based on trust and effective cooperation. We are already seeing the results, and this is crucial for development efficiency at Bankdata. We agree on the direction, enabling us to channel additional development resources into the areas that give the financial institutions the highest return,” says John Fisker.
Lower costs and more development
Bankdata’s solutions cover almost all software needed to run a bank, such as mobile banking, payment solutions and advanced systems for capital market trading. Sydbank was already a co-owner of Bankdata, and through the merger with Arbejdernes Landsbank and Vestjysk Bank, the new major bank will consolidate all IT development with one data centre, resulting in significant efficiency gains. The migration is expected to be completed in 2027.
“We acknowledge the trust that AL Sydbank is placing in us. It obliges us, and we approach the task with great respect. Our owners created Bankdata to be as competitive as possible. With AL Sydbank on board, the community achieves greater efficiency gains. We expect this will lead to both lower costs for the financial institutions and increased development capacity,” says Esben Kolind Laustrup, CEO of Bankdata.
Bankdata develops digital products for seven Danish banks. Bankdata was founded in 1966 and currently has more than 1,000 employees at its offices in Fredericia, Silkeborg and Aarhus. Bankdata is owned by Jyske Bank, Ringkjøbing Landbobank, SJF Bank, Skjern Bank, Djurslands Bank, Kreditbanken and AL Sydbank.
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