SEB Bank, the largest bank in Lithuania, invests almost LTL 4.6 million in to the upgrade of its data transmission network.

SEB Bank, the largest bank in Lithuania, invests almost LTL 4.6 million in to the upgrade of its data transmission network. Upon the implementation of this project, the speed of the SEB Bank’s network will increase, even faster and more efficient customer service at the Bank’s outlets as well as exchange of information between the Bank's branches will be ensured. The tender to develop the Bank’s new network and to provide data transmission services has been won by TEO LT, AB, an integrated telecommunication, IT and TV services provider.

“The smooth and fast operation of information systems is essential for the Bank, continuously carrying out different financial operations. Therefore, we upgrade them on a regular basis and strive to implement the latest technologies. Having implemented the project for the new network’s development, the first to feel its benefits will be the customers using our Bank’s services in smaller towns of Lithuania, whom we will be able to service more quickly”, - Aušra Matusevičienė, Vice President and Head of Business Support Division and Chief Financial Officer of SEB Bank, said.

Having won the tender announced by SEB Bank, TEO will develop the infrastructure of fiber-optic cables – the first network of this kind in Lithuania – for the Bank all over Lithuania.

“The fiber-optic network – the fastest data transmission mode invented so far. This modern technological solution enables much faster transmission of large amounts of data, in the use of it there is felt an almost imperceptible delay of data, whereas information is sent and received at the same speed. The use of the most advanced system shows the SEB Bank’s exclusive approach to its customers and ensures their fast and convenient service” - Darius Gudačiauskas, Chief Sales Officer of TEO, said.

The duration of the contract between SEB Bank and TEO will be three years. It is planned to develop the new network already up until September this year.