Agreement between Arion bank and RB

Agreement between Arion bank and RB

LOGOS congratulates RB (IT service centre for the Icelandic financial market) and Arion Bank on their recent agreement on the implementation of new basic systems for the bank. As stated in the announcement from the companies, the system from Sopra Banking Software and solutions from RB come together in this solution for the Icelandic banking system.

This project involved replacing RB’s 40 year old specially designed deposit and payment systems for a software solution that meets international standards. The goal of the project is to increase streamlining and minimise the operating costs of the bank’s information systems and support further product development. The systems will take into account changes to European regulatory environment and thus make it easier for the bank to meet their obligations. The announcement also stated that the scope of the project is vast, and that over 200 people from Arion bank, RB and Sopra are involved.

Hjordis Halldorsdottir, lawyer and partner at LOGOS, acted for Arion Bank on behalf of LOGOS.