Teris

Teris’ predecessor, Tölvumiðstöð Sparisjóðanna, was founded in March 1989 by six of the largest savings banks in Iceland together with Lánastofnun Sparisjóðanna (the Savings Banks Lending Organization – renamed Icebank). Other savings banks soon joined the partnership.^{[citation needed]}

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

Teris provided services as a dedicated computer department, and sold software to several financial institutions and companies in Iceland, the Faroe Islands and Norway.