MUNICH, Germany – Fidelity National Information Services, Inc. (FIS), a worldwide leader in processing and technology solutions for financial institutions announced today that TeamBank AG has implemented a long-term outsourcing solution using K-CORE24, the market-leading core banking system from FIS’ KORDOBA division.
TeamBank, successor of the norisbank AG, is well-known for its easyCredit product, the first and best-known installment credit product in the German cooperative bank market. A subsidiary of the DZ BANK AG, TeamBank is a member of the credit union Genossenschaftlicher FinanzVerbund.
With its modular structure and extensive functionality, K-CORE24 is a comprehensive banking software solution that can accommodate a broad range of core banking business requirements. K-CORE24 is platform-independent, with both multi-currency and multi-language capabilities.
“As part of the selection process, we performed a rigorous technical and business evaluation of the KORDOBA solution,” said Christian Polenz, TeamBank IT manager. “We are convinced that K-CORE24 gives us a modern and proven banking platform to support our business. As well, KORDOBA was able to deliver on a very tight implementation schedule. Having this long-term solution in place gives us the ability to execute on our growth strategy.”
The arrangement, which includes hosting and application management services, was implemented in September 2007 after a six-month project. While the solution initially supports TeamBank’s German business, TeamBank will also use K-CORE24 to support its planned entry into the Austrian market.
In addition, TeamBank recently extended the term of the outsourcing agreement with KORDOBA after a detailed technical and business evaluation of K-CORE24.
”We are excited that TeamBank has selected us as their key technology partner and are committed to helping them as they grow their business across the market,” said Barry Dark, managing director of KORDOBA. “TeamBank’s selection of KORDOBA underscores K-CORE24’s market leadership and validates the significant investment that we have made into K-CORE24 during the last three years. Our ability to implement the solution so rapidly demonstrates K-CORE24’s broad standard functionality, which has tremendous value for banks looking to reduce IT costs while addressing innovative market requirements.”
About TeamBank AG
TeamBank AG is an installment credit specialist in the German cooperative bank market. The Nuremberg-based company has had double-digit growth in recent years, with approximately 900 Volksbanks (credit unions) and Raiffeisenbanks (agricultural cooperative banks) selling easyCredit. Based on the cooperative banking view of responsible credit business practices, easyCredit includes a “safety belt,” offering a maximum of financial safety to the customer and protects against insolvency.
About KORDOBA and Fidelity National Information Services
KORDOBA is wholly owned by Fidelity National Information Services, Inc. (NYSE: FIS), a leading provider of core processing for financial institutions; card issuer and transaction processing services; mortgage loan processing and mortgage-related information products; and outsourcing services to financial institutions, retailers, mortgage lenders and real estate professionals. FIS has processing and technology relationships with 35 of the top 50 global banks, including nine of the top 10. FIS is a member of Standard and Poor’s (S&P) 500® Index and has been ranked the number one overall financial technology provider in the world by American Banker and the research firm Financial Insight in the annual FinTech 100 rankings. Headquartered in Jacksonville, Fla., FIS maintains a strong global presence, serving more than 9,000 financial institutions in more than 80 countries worldwide. For more information on Fidelity National Information Services, please visit www.fidelityinfoservices.com.
KORDOBA is a leading provider of technology-based solutions for the European banking market. The company provides numerous software applications designed to address a wide range of banking functions, including core banking, multichannel solutions for sales banking, securities processing, self-service device management, and controlling and reporting. These solutions are offered through a licensed or outsourced model and are used by many leading banks in central Europe. For more information about KORDOBA, please visit www.kordoba.com.