Fearnley Securities transitions to SaaS trading platform with TietoEVRY

Rick Steves

TietoEVRY is a Finnish IT software and service company with approximately 24,000 employees, active in around 20 countries.

Norway-based investment bank Fearnley Securities has selected TietoEVRY to deliver its new SaaS Securities Trading platform, counting on the firm to ensure the IT behind the securities trading and settlement run smoothly, with capabilities for future scaling. aa

Fearnley Securities has been a long-time customer of TietoEVRY and has used TietoEVRY’s ProBroker on-premise solution for their securities brokerage operation for several years.

Now that it is transitioning to a Software-as-a-Service (SaaS) solution in a private cloud, Fearnley reached out again to the fintech firm.

Olav Amlie, Deputy CTO at Fernley Securities, commented: “We want to take full advantage of cloud and outsource applications like ProBroker.

“We reviewed the market for other alternative vendors and solutions but decided to stay with ProBroker as it continues to represent the best fit for our needs.

“Now, moving over to a SaaS agreement with TietoEVRY, our IT team can concentrate on the areas where they have more expertise and can add more value. By taking this step into the cloud, we also expect to become more agile and efficient in our operations”, he concluded.

Dag Hasvold, Head of Equities, Funds & Savings within Wealth at TietoEVRY, said: “Moving to the cloud will provide Fearnley Securities with a more flexible and scalable solution that removes the need for managing and updating software and hardware. With hosting removed from the equation, focus can be put on end customers and exploring new digital opportunities, which is in line with Fearnley Securities ambition.

“TietoEVRY is proud to be given the trust form Fearnley Securities for operating their securities trading platform in the years to come. Fearnley Securities has been an important member of our customer community for many years, and this agreement confirms our market leading solution combined with our supporting services and local expertise makes this a winning formula.”

ProBroker SaaS supporting securities trading, clearing and settlement, servicing both retail and institutional flows. Part of TietoEVRY’s Wealth Platform, ProBroker SaaS enables customers to expose their services through digital channels and benefit from the growing partner-network to the platform via open APIs.

TietoEVRY is a Finnish IT software and service company with approximately 24,000 employees, active in around 20 countries.

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