Šiaulių Bank strategic goal achieved together

Europe’s commercial banks are investing huge resources every year in technology, artificial intelligence, and other innovations to improve operational efficiency, cybersecurity, and most importantly customer experience. Morevoer, more than a fifth of commercial banks see the move to the cloud as a strategic priority to ensure operational flexibility and security and adapting to a changing environment.

Šiaulių Bank has set ambitious goals: to provide the best customer experience, to connect with new customers and to help them manage their personal finances, and to become the first choice of bank in Lithuania in terms of customer preference and brand.

In order to achieve these goals, in the first quarter of this year Šiaulių Bank signed an agreement with Temenos, a Swiss cloud banking giant, and will be the first bank in Lithuania to migrate its main IT systems to the cloud.

The NOOR team, led by Partner and Attorney-at-Law, Andrius Iškauskas, the head of the Technology and Media, Data Protection and Intellectual Property Group, contributed to the implementation of Šiaulių Bank strategic investment by advising the bank on the structure of the transaction and by drafting and coordinating the legal transaction documents.

“We have focused on the complex legal requirements, the challenges of digitisation and compliance. Everything we do opens up new opportunities for our clients and making the bank even more competitive,” said Andrius Iškauskas.