Roschier represented Cognizant in the acquisition of Oy Samlink Ab from Oma Savings Bank Plc, Savings Banks' Union Coop, POP Banks, Aktia plc, Posti Group Corporation and Svenska Handelsbanken AB (publ), Branch Operation in Finland and certain minority shareholders.
Cognizant has been selected by three Finnish financial institutions, Savings Banks Group, Oma Savings Bank Plc and POP Bank Group, as their strategic partner to build and operate a shared core banking platform to enable their digital transformation plans. More than 10 percent of Finnish banking deposits and loans will be managed by the new platform.
Under a multi-year agreement, Cognizant will transform and operate the banks' common core banking systems and support each individual bank's enterprise digital strategy. The new core banking platform, based on Temenos T24 and Temenos Payment Hub (TPH), will enable the banks to streamline processes and have greater agility and scalability while helping reduce overall costs of systems and business operations. The banks will be able to launch new products and services more quickly and cost-effectively, and their customers will benefit from improved experiences across mobile, internet and in-branch banking.