Press release

Central Bank of Iceland enters into a long-term service agreement with SkySparc

Stockholm, 20 April 2021 – SkySparc, an independent solutions provider, has entered into a multi-year partnership agreement with the Central Bank of Iceland covering use of outsourced support services and OmniFi, SkySparc’s proprietary data integration and workflow automation solution.

Although the Central Bank of Iceland has used SkySparc’s services since 2018, the new agreement represents a formalization of the relationship. Under the agreement, SkySparc will provide structured ongoing support services to optimize use of the bank’s treasury management system at least up to 2025.

In addition, SkySparc has licensed use of OmniFi across the bank’s treasury operations, having worked with internal teams to identify a number of use cases, including for test automation and data warehouse projects. The agreement includes an annual upgrade of OmniFi.

SkySparc has provided support and consultancy services to the global central banking community, one of its four core client sectors, for two decades. The company’s expertise in delivering high-quality services to central banks was recognized in 2019 when it was named Technology Consultant of the Year in Central Banking’s FinTech & RegTech Global Awards.

SkySparc Senior Engagement Manager Lars Schröder said: “Having worked closely with the Central Bank of Iceland in recent years, SkySparc welcomes this opportunity to extend our business and technical relationship. With SkySparc’s support in developing and improving its treasury system processes, this new arrangement provides the bank with long-term reassurance, empowering treasury operations staff to plan with confidence.”

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