Teris is an iceland

Iceland

Iceland , described as the Republic of Iceland, is a Nordic and European island country in the North Atlantic Ocean, on the Mid-Atlantic Ridge. Iceland also refers to the main island of the country, which contains almost all the population and almost all the land area. The country has a population...

ic software company focusing on servicing the financial sector. Originally founded as Tölvumiðstöð sparisjóðanna (The Saving Funds computer centre) it changed its name on March 23 2007 to reflect changes in clientele and ownership.

Its headquarters are in Kópavogur

Kópavogur

Kópavogur is a city and Iceland's second largest municipality, with a population of 30,779.It lies immediately south of Reykjavík and is part of the Greater Reykjavík Area. The name literally means seal pup bay...

 and currently has about 150 staff members, having doubled in size in the last 2 years.

History

Teris’ predecessor, Tölvumiðstöð sparisjóðanna (The Computer Centre of the Icelandic Savings Banks) was founded in March 1989 by six of the largest savings banks in Iceland together with Lánastofnun sparisjóðanna (The Savings Banks Lending Organization – now renamed Icebank). Other savings banks soon joined the partnership.

Originally the Computer Centre functioned simply as the computer division for the savings banks. Gradually the number of shareholders increased, more finance companies joined the group and the firm expanded.

Services

Teris provides services not only as a dedicated computer department, but also sells software to several financial institutions and companies in Iceland, The Faroe Islands

Faroe Islands

The Faroe Islands are an island group situated between the Norwegian Sea and the North Atlantic Ocean, approximately halfway between Scotland and Iceland. The Faroe Islands are a self-governing territory within the Kingdom of Denmark, along with Denmark proper and Greenland...

 and Norway

Norway

Norway , officially the Kingdom of Norway, is a Nordic unitary constitutional monarchy whose territory comprises the western portion of the Scandinavian Peninsula, Jan Mayen, and the Arctic archipelago of Svalbard and Bouvet Island. Norway has a total area of and a population of about 4.9 million...

. In 2007 it signed a contract to use SAS System

SAS System

SAS is an integrated system of software products provided by SAS Institute Inc. that enables programmers to perform:* retrieval, management, and mining* report writing and graphics* statistical analysis...

 for many of its solutions.

For many years Teris has operated and supported the deposit and loan system Flexcube from i-flex.