Summary Type of financial institution: Universal bank Headquarters: Stockholm, Sweden Branches: 578 branches and offices worldwide Assets: $285.3 billion Project scope: Domestic (head office) System/vendor replaced:Mainframe-based in-house System/vendor installed: Core Banking Suite (formerly Proretail) from Tieto Technology: IBMmainframe, Cobol, Java, DB2
Current functionality: Retail and corporate customer accounts and cash management offerings including cash pooling andmulti-currency
Interfaces: Virtually all other systems within the bank, for areas such as payments, regulatory reporting,MIS, branch banking, channel delivery Selection team: Bank and individual consultants Selection time: Several years Installation team: Vendor and bank Installation time: Three to four years Level of satisfaction: Pleased and in general has met expectations Overview
Swedbank is unusual among Swedish banks by virtue of having replaced its core system in the last few years. The project was not without problems but the bank has emerged with a new platform that has brought real-time transaction processing, 24x7 support and better time to market for products.
