Aktia Bank plc: New core banking platform will be implemented step-by-step during the last quarter of 2016
Aktia Bank plc
Stock Exchange Release
02/09/2016 at 3:00 p.m.
New core banking platform will be implemented step-by-step during the last quarter of 2016
Acceptance testing of the systems included in the new core banking platform has advanced well, the new platform will be implemented step-by-step during the last quarter of 2016. Staff training commenced last spring, and the feedback has been positive.
The total investment, including migration costs, is estimated to exceed EUR 65 (previously exceed 55) million, and the total activated investment costs for the project are estimated to amount to approximately EUR 55 (previously 50) million. Expenses have increased mainly due to prolonged testing to ensure a smooth transition for our customers.
At the end of June, the activated investment costs amounted to EUR 48 million. The increase in costs will not impact the outlook for Aktia’s result for the whole year 2016.
The new core banking system will facilitate a number of quicker customer service processes and modernised work approaches, materialising simultaneously with training for and implementation of the system. The core banking platform will also be a base for continued development of digital services. The cost savings brought by the new core banking system will materialise from 2017 onwards.
AKTIA BANK PLC
For more information, please contact:
Jussi Laitinen, CEO, tel. +358 10 247 6250
Magnus Weurlander, Director tel. +358 10 247 6383
Anna Gabrán, IR, tel.+358 10 247 6501, ir(at)aktia.fi
Nasdaq Helsinki Ltd
Aktia provides a broad range of products and services within banking, insurance and real estate agency. Aktia operates mainly in coastal areas and inland growth areas. Aktia has about 300,000 customers who are served by approximately 1,000 employees at 50 branch offices and via Internet and telephone services. Aktia's shares are listed on the list of Nasdaq Helsinki Ltd. For more information about Aktia see www.aktia.com.