March 18, 2011 - Assignment

Bankernas Automatbolag enters seven-year outsourcing agreement with EDB ErgoGroup

Bankernas Automatbolag has entered into a seven-year outsourcing agreement with EDB ErgoGroup. The agreement, valued at close to SEK 1 billion, entails that Bankernas Automatbolag will purchase ATM services from EDB ErgoGroup for the operation of approximately 2,800 ATM’s in Sweden, including administration, software management, transaction processing, settlement and operational monitoring.

Bankernas Automatbolag is a company jointly owned by the five largest banks in Sweden, Danske Bank, Handelsbanken, Nordea, SEB and Swedbank. The company offers Swedish banks and other card issuers a unified infrastructure for ATMs, thereby realising synergy benefits through standardised services, using certificated solutions and leading expertise in the payments area.

Bankernas Automatbolag was advised by Mannheimer Swartling. The partner responsible for the matter was Bo Söderberg, assisted primarily by Anders Bergsten, Helena Riese, Anna Engquist, Andreas Stéen, Katja Meitz and Anette Ivri Nordin.