ESPOO & BIRMINGHAM – February 14, 2023 – Today, Telia Finance AB, a wholly owned subsidiary of the leading Nordic and Baltic digital communications company (NASDAQ: TELIA), has selected IT software and services company Tietoevry (HEL: TIETO) and leading international provider of application modernization software and services Advanced to manage and execute the migration and transformation of “Final,” its mission-critical finance engine. The news marks another chapter in the strategic partnership between Tietoevry and Advanced, which is set to unlock new opportunities for the Telia Finance business.
As a business-critical application, Telia Finance’s Final remains fundamental to the company’s ability to deliver innovative and competitive financial solutions that suit modern communication needs. Telia Finance is keen to transform the 30-year-old system and pave the way for an agile development approach on modern infrastructure.
Tietoevry is a longstanding Telia partner and will serve as a strategic advisor to the project, which will start at the beginning of March 2023. As part of the code and data migration process, Tietoevry will harness Advanced’s professional services capabilities, automated transformation tooling, and runtime components to eliminate Telia Finance Final’s current dependency on OpenVMS. This includes migrating an estimated 1.5 million lines of COBOL code plus other programming languages to the cloud-ready language, Java.
"We are delighted to continue our longstanding collaboration with Telia and support Telia Finance in renewing its core finance application,” said Jouni Malinen, Customer Executive for Tietoevry. “Through our deep customer and market understanding, combined with our large ecosystem of partners including Advanced, we are able to support customers like Telia Finance in this transformation journey with the best mix of expertise."
Once migrated, Telia Finance intends to adapt the Final platform towards its B2B business vision for all Telia countries. Its modernized infrastructure will help facilitate shorter iterations of development and enable more frequent feedback and automated testing to power a modern way of working and DevOps-enabled strategies.
“As we remain steadfast in our commitment to providing the highest quality service and capabilities to our customers, we recognize the power in modernizing our legacy systems, and transforming Final is another step in our ambitious transformation journey,” said Erik Björk, CIO of Telia Finance. “We have the utmost confidence in Tietoevry and Advanced in helping us achieve project success and are eager to jumpstart these efforts in the coming months.”
Tim Jones, Managing Director of Application Modernization for Advanced added, “From ongoing skills gap pressures to the emphasis of de-risking business, companies today are prioritizing legacy mainframe modernization more than ever before. For decades, Advanced has been at the forefront of enabling this reality for customers each step of the way, without any kind of disruption to their operations or core business. Our team is excited and ready to support Tietoevry and Telia Finance in this endeavor and drive efforts that will unlock more nimble, cost-effective, and impactful IT ecosystems to facilitate sustained success for the organization.”
ABOUT TELIA FINANCE
Bringing the world closer – on the customer’s terms
Telia Finance is an independent company acting as a finance engine for Telia Company. We offer innovative and competitive finance solutions on your terms. We want to make it possible for all Telia Company's customers to find the right solution for their telecom needs.
Telia Finance shares its values and ambitions with Telia Company. The values define who we are as a company and what we're striving to become. We're driven by passion, innovation and simplicity, to enable our customers transition to new telecom solutions. All this is reflected in our brand promise: "We make the transformation towards the new Telco business models possible.”
Advanced is a leading international provider of application modernization services with unique expertise in the legacy modernization market.
With more than 500 modernization projects completed worldwide, and 2.5 billion lines of code processed through our solutions, we have been driving IT efficiency, agility, and competitive advantage for customers through core application and database transformations for over 35 years.
Over that time, we have helped organizations across all sectors including Swedish government agencies, several of the largest Nordic banks, the UK’s primary social services provider, and many others across telecommunications, logistics, financial services, and more.
For more information, visit: modernsystems.oneadvanced.com.
Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Nordic heritage and global capabilities. Based on our core values of openness, trust and diversity, we work with our customers to develop digital futures where businesses, societies, and humanity thrive.
Our 24,000 experts globally specialize in cloud, data, and software, serving thousands of enterprise and public-sector customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com