Norges Bank is among the first central banks to have outsourced the IT operation of its settlement system and adopted a second generation off-the-shelf settlement system from a commercial software vendor. During the two years the new system has been up and running, operational stability has been 100%, while the changeover has reduced costs significantly. This article describes the strategic choices involved, our experience of the new solutions and some risk factors associated with the outsourcing.

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Related articles published by Norges Bank:

• Upgrading and outsourcing Norges Bank's settlement system (pdf, 353 kB) Economic Bulletin 2/2004