Teris’s predecessor – the Computer Centre of the Icelandic Savings Banks – was founded in March 1989 by six of Iceland’s largest savings banks together the Savings Banks’ Credit Institution (later Icebank). Other savings banks soon joined the partnership.

Initially, the Computer Centre functioned effectively as the savings banks’ computer division. Gradually, however, the number of shareholders grew, more finance companies joined the group and the firm expanded.

In 2002, the Computer Centre started offering solutions and services to non-shareholders, leading to rapid growth of the client base.

In March 2007, the company was renamed Teris. In that same month, the number of employees crossed the 100 mark and has been around that figure since that point of time.