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Company Announcement No 08/10
Group Executive Management
Peberlyk 4 • PO Box 1038
DK-6200 Aabenraa
Tel +45 74 37 37 37
Fax +45 74 37 35 36
sydbank.dk
SWIFT SYBKDK22
Sydbank A/S
CVR No DK 12626509, Aabenraa
1 September 2010
IT collaboration between Bankdata and Jyske Bank
- Doubling of the available development resources of Bankdata
- Synergies of around DKK 300m from 2013.
The significance of the use of IT within the banking sector is constantly
growing. Today many systems are made readily available to clients via
miscellaneous self-service solutions: netbanks, card services, ATMs etc.
Moreover IT systems providing internal support to banks contribute to ensuring
valuable and effective customer service etc.
To ensure long-term competitiveness within this area a framework agree-ment has
been concluded between Bankdata in Fredericia and Jyske Bank.
According to the agreement, which has been concluded subject to the approval of
the relevant authorities, Jyske Bank will become a member of Bankdata and will
start using the IT systems developed by Bankdata. As a result Bankdata will be
the continuing development centre of all the member banks.
As a consequence of the agreement, Anders Dam, CEO, Jyske Bank, will join the
chairmanship of the Board of Directors of Bankdata. The chair-manship comprises
Bent Naur, CEO, Ringkjøbing Landbobank (Chairman), Karen Frøsig, CEO, Sydbank
and Anders Dam, CEO, Jyske Bank (Vice-Chairmen).
The executives of Bankdata remain unchanged: Ove Vestergaard, Managing
Director, and Lene Weldum, Director.
Schedule
It has been agreed that Jyske Bank will start using Bankdata's systems in 2012.
Until then the systems of Bankdata will be developed to meet the particular
demands of Jyske Bank at the time of transition. To guarantee this Jyske Bank
will as soon as possible make available more than 100 systems developers for
the systems development at Bankdata.
Background
Today Bankdata has 14 member banks: Alm. Brand Bank, Djurslands Bank, Aarhus
Lokalbank, Kreditbanken, Nordfyns Bank, Nordjyske Bank, Nørresundby Bank,
Ringkjøbing Landbobank, Skjern Bank, Sparekassen Sjælland, Sydbank, Tønder
Bank, Vestfyns Bank and Østjydsk Bank. Sydbank is currently the largest
Bankdata member.
The policy behind systems development at Bankdata is that all banks use the
same systems - “several banks, one system”. This policy provides the basis for
realising economies of scale associated with systems development and it will be
continued after Jyske Bank joins Bankdata.
After the entry of Jyske Bank into the collaboration, total assets behind
Bankdata will be increased by around two thirds and Bankdata will emerge as the
biggest of the IT centres providing services to Danish banks. Bankdata's
systems development will take place in Jutland at addresses in Fredericia and
Silkeborg, respectively. The entry of Jyske Bank into the collaboration creates
the basis for significantly increasing the systems development resources whose
agreed objective is to double the available systems development resources.
Effect
The entry of Jyske Bank into Bankdata holds an overall potential of around DKK
300m p.a. For all the banks involved - current Bankdata banks and Jyske Bank -
this constitutes a possibility to lower IT costs while at the same time
increasing the efforts aimed at joint systems development.
As a result of the agreement Bankdata will be among the biggest units in terms
of development within the financial institutions market. Consequently a firm
basis has been created to ensure that the banks involved can in future combine
modern and flexible systems to customers and employees with relatively low IT
costs.
It is the aim and a condition of the realisation of the full potential of the
agreement that the operations of Bankdata be carried out by JN Data in
Silkeborg, the operations centre presently used by Jyske Bank. It is ex-pected
that an agreement in this respect will be concluded in the near fu-ture.
Yours sincerely
Karen Frøsig
CEO
Please direct any questions to:
Karen Frøsig, CEO, Sydbank - tel +45 74 37 20 00
