Co-op Bank signs five year managed services deal

The Co-operative Bank has signed a five-year managed services contract with TietoEnator to provide 24-hour software and hardware support for its mortgage administration and debt collection systems.

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The Co-operative Bank has signed a five-year managed services contract with TietoEnator to provide 24-hour software and hardware support for its mortgage administration and debt collection systems.

TietoEnator has provided the bank with software support for the past six years. The new contract expands the service to supporting hardware infrastructure as part of the bank’s strategy of consolidating IT supplier base.

The deal will include the implementation of TietoEnator’s Mortgage Sales Portal and Clearview desktop environment.

David Dunlop, head of mortgage operations at Co-operative Bank, said the managed service model has been chosen because it offered visibility into IT costs over the next five years, a transparent pricing structure, strict service level agreements and 24-hour support.

The new infrastructure will include encrypted routers, firewalls and a dedicated secure line for Co-operative Bank data – requirements highlighted by the bank’s security audit.

The new Mortgage Sales Portal will enable the bank to offer an online service for customers to request and managing mortgage applications. The system will allow customers and the bank’s own field sales team to request online mortgage illustrations and enable online tracking of all applications.

Dunlop said: “Customers are rightly demanding more and more online services, so we’re delighted to be able to offer a complete online mortgage service to both new borrowers and intermediaries. Time to mortgage offer is a key differentiator for lenders and we believe that a seamless, fully automated system will enable us to offer a faster and more efficient service to our customers.”

Earlier this month, Co-operative Financial Services – the bank’s parent group - extended its 12-year outsourcing contract with Xansa for another five years in a deal expected to be worth up to £100m.

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