Tieto Banktech has entered into a 5-year agreement with Cultura Bank to deliver modern full-service technology solutions, ensuring cost-effective banking operations and predictable technology costs.
Cultura Bank, a Norwegian ethical savings bank with approximately NOK 1.4 billion in assets and more than 4,500 customers, is joining Lokalbanksamarbeidet (the Local Bank Collaboration), a consortium of 16 independent Norwegian savings banks. This provides access to competitive and modern solutions in line with the strategic partnership entered with Tieto Banktech in May 2025.
“Through the Local Bank Collaboration and our long-term technology agreement with Tieto Banktech, we are laying a solid foundation for sound banking operations going forward. Modern technological solutions enable us to be a positive driving force for growth and development for our customers. This strategic move represents a major step towards becoming Norway’s leading bank in sustainable finance,” says Karoline Bakka Hjertø, acting CEO of Cultura Bank.
Overall, the partnership with Tieto Banktech strengthens the competitiveness of the entire 16-bank collaboration.
“Together with the other banks in the Local Bank Collaboration, Cultura Bank will operate on a unified technology platform that streamlines operations. In close collaboration with Tieto Banktech, we are developing digital processes and user-friendly tools that will free up employees for proactive advisory and sales activities. Combined with a modern digital customer interface, this delivers a superior customer experience,” says Bent R. Eidem, CEO of Lokalbanksamarbeidet.
Modern technology platform
Tieto Banktech will deliver an end-to-end core banking platform based on industry-standard technology that is scalable and adapted to Norwegian conditions and regulatory requirements. The agreement includes mobile and online banking solutions, card and payment solutions, and effective tools for combating financial crime.
“We’re honored that Cultura Bank has chosen Tieto Banktech as its strategic partner through the Local Bank model. We will now migrate Cultura Bank, together with the entire collaboration, to our modernized core banking system in a well-tested and controlled manner. We are intensifying our work on innovation and renewal of customer-centric solutions with increasing integration of responsible AI that streamlines internal work processes and enhances customer engagement and relevance for Cultura Bank and the entire Local Bank Collaboration,” says Mario Blazevic, Managing Director Tieto Banktech.
For more information, please contact:
Geir Remman, Head of Communication and Marketing, Tieto Banktech, geir.remman@tietoevry.com
Tietoevry Newsdesk: +358 40 5704072
Tieto is a leading software and digital engineering services company with global market reach and capabilities. We provide customers across different industries with mission-critical solutions through our specialized software businesses Tieto Caretech, Tieto Banktech and Tieto Indtech as well as Tieto Tech Consulting business. Our around 15 000 talented vertical software, design, cloud and AI experts are dedicated to empowering our customers to succeed and innovate with latest technology.
Tieto’s annual revenue is approximately EUR 2 billion. The company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tieto.com