In January 2019, Samlink’s owners announced that Cognizant had agreed to acquire Oy Samlink AB as part of a deal to build and operate a shared core banking platform. The required regulatory authorities have approved the transaction and the deal was completed on April 1, 2019.
By this acquisition, Cognizant expands its Nordic footprint and further strengthens its banking capabilities by creating a banking and financial services’ centers of excellence in Finland that will strengthen Cognizant’s ability to serve its clients, specifically across the Nordics and in Europe as a whole.
Under the agreement, Cognizant will serve as a technology partner for three financial institutions (Savings Banks Group, Oma Savings Bank Plc and POP Bank Group), developing a new core banking system to position them to capitalize on cutting-edge digital technologies, which are transforming the financial services industry.
Cognizant is one of the world’s leading professional services companies, transforming clients’ business, operating and technology models for the digital era. The company is ranked 195 on the Fortune 500 and is consistently listed among the most admired companies in the world.
Samlink’s operations will continue both in Espoo and Jyväskylä, and the transaction has no impact on Samlink’s current business.
“We at Samlink are excited with the opportunity to develop our services on a new basis, and we strongly believe that the arrangement will also be a success story for our customers,” says Samlink’s CEO Pentti Unkuri.