POP Bank Group and Oy Samlink Ab have agreed to terminate the agreement on renewal of core banking platform which was signed in 2019. Oy Samlink Ab will pay compensation to POP Bank Group for the termination. POP Bank Group will continue as a customer of Samlink, a company owned by Cognizant. The termination will not affect the services provided to POP Bank Group’s customers.
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The termination of the agreement will have a positive impact on POP Bank Group’s result in 2021. POP Bank Group’s result in 2021 is estimated to improve substantially in comparison to 2020. Earlier it was estimated that POP Bank Group’s result in 2021 remains at the same level as in 2020.
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Bonum Bank Plc is the central credit institution of the amalgamation of POP Banks. Bonum Bank obtains external funding for the POP Bank Group, operates payment transactions and offers unsecured consumer credits and secured credits to retail customers. Bonum Bank Plc also provides centralized services to POP Banks.
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