2020 – the year in review



A word from our CEO:

What a difference a year makes – or even a few months. The Covid-19 pandemic has affected and radically changed consumer and professional habits worldwide. It has changed the way we work, forcing an all-remote organization upon us. I am proud to say that we stood up to the challenge.

During these trying times, Itello has maintained operational and financial resilience and we managed to keep our customers’ projects rolling. Together, we continue building the tech foundation for the life insurance and pension business of tomorrow.

I would like to take this opportunity to highlight the seminal work performed by our customers, partners and the Itello team during 2020. Thanks to all of you, we can look back at several successful migrations during the year, helping our customers gain access to more integrations, automated processes and to effectively maintain compliance.

In Sweden, we successfully completed one of Itello’s largest implementation projects to date. This included transferring the fund trading of holdings for more than one million customers from a number of legacy systems to our platform Inca.

Itello’s business in Norway continues to grow. In November, our subsidiary Eikos AS signed a contract with KLP, Norway’s largest pension company and the dominant player in the municipal sector.

Our SaaS platform Itello Live has further evolved, addressing the needs for a more efficient delivery model and to enable digital transformation for customers. While the EU Schrems II verdict this past summer, at least temporarily, challenged some public cloud deployments, we support multiple service delivery options to ensure that Itello has the most relevant SaaS solution given any legal or regulatory issues.

These are just a few brief excerpts from what we have experienced and accomplished during 2020. There are many more success stories to tell, but the best of all is how we all have worked together through the pandemic – the Itello team, customers and partners. Thank you all for a great commitment and a job well done!

We now confidently buckle up for 2021, ready to seize the opportunities and tackle the challenges coming our way. As we all are hoping for a gradual return to the way of life we enjoy, meeting IRL with friends, colleagues, and customers. Still, what matters most is staying healthy and taking the care required to do so.

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