On Monday, February 19, the Norwegian bank Maritime & Merchant Bank went live with SDC's systems.
Maritime & Merchant Bank is a relatively new niche bank for the shipping and offshore industry. The bank's main product is mortgage-backed loans in liquid and standardized vessels, which they offer to shipping companies in Norway and abroad. They also offer deposits for private individuals with more than 500.000 Norwegian kroner available for investment.
The transfer from the bank's previous IT provider to SDC has been completed in a compressed implementation process of just three months.
- “Maritime & Merchant Bank has experienced the project as highly efficient and SDC as a good and professional supplier of a complete and integrated banking system”, says Chief Risk and Chief Compliance Officer Lars Fossen from the bank. He continues
- ”Maritime & Merchant has actively chosen to offer a limited range of products. It ensures that we can provide services based on solid industry knowledge, efficient processes and tailor made solutions. We therefore see the shift to SDC as an essential element. SDC offers a modern IT platform that complies with legal and sectoral requirements, and a delivery model with a high level of common development within the regulatory area”.
Maritime & Merchant is the third new bank that has recently chosen SDC as their IT partner. In 2017, two additional Norwegian banks, MyBank and Næringbanken also joined the team.