Tieto to deepen partnership with Folksam

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TIETO CORPORATION   PRESS RELEASE         8 July 2014 at 10.00 EET

Insurance company Folksam has signed a three-year frame agreement with Tieto regarding strategic IT-consultancy services. With this agreement, the two companies deepen their partnership that began in 2012, when Folksam's entire application operations were outsourced to Tieto.

“Tieto has the broad expertise and the innovative capacity that we need in a strategic IT partner. With this deal, we prepare Folksam for the future,” says Gunnar Fröderberg, CIO at Folksam.

“Through the earlier outsourcing agreement, we have worked closely with Folksam in the operation management and development of all core business IT-systems,” says Alexandra Fürst, Head of Financial Services at Tieto, Sweden. ”We are very happy to broaden this confidence into new areas and look forward to continuing to help one of the insurance industry's heaviest players into new areas such as digitization, customer experience and transformation,” continues Alexandra Fürst.

Tieto is one of the largest providers of IT services to the financial industry in the Nordic countries. The company sees a steady rising interest in new services from the industry.

For further information, please contact:

Alexandra Fürst, Vice President, Head of Financial Services, Tieto, Sweden, tel: +46 708 316 799, alexandra.furst[at]tieto.com

Gunnar Fröderberg, Chief Information Officer, Folksam, tel: +46 8 772 64 58, gunnar.froderberg[at]folksam.se  

TIETO CORPORATION

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Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers’ business transformation. At Tieto, we believe in professional development and results.

Founded 1968, headquartered in Helsinki, Finland and with approximately 14 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.6 billion. Tieto’s shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.

Folksam is a customer-owned company that provides insurance and retirement savings services. Almost every other Swede is insured by Folksam and they administer the pensions of nearly two million individuals.

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