05 December 2023
Tietoevry Banking, the market-leading Nordic provider of financial SaaS solutions, announced today that it has entered into a long-term contract with a mandate to undertake a major overhaul of the card issuing and payments infrastructure for a Tier-1 bank serving millions of individual and corporate customers across the Nordics.
The agreement includes the delivery of our market-leading SaaS-solution that will enable a wide range of modern payment services including credit and debit cards for households and corporate clients, digital wallets and more. Specifically, Tietoevry Banking will upgrade the Card Management System for their client’s entire portfolio of more than 5 million cards which are used for around 200 million transactions on a monthly basis.
Tietoevry Banking will also upgrade the bank’s transaction processing services, including card authorization, clearing, digital wallets, Access Control Servers and management of the bank’s 3D Secure protocol which helps to reduce fraud risk. Tietoevry Banking will also take responsibility for the bank’s fraud monitoring and chargeback management as fully-outsourced business processes.
This transformation will improve agility, quality and range of banking and payment services for the bank, enabling the tier 1-bank to create new revenue streams and improve competitiveness.
Commenting on this new business win, Klaus Andersen, CEO of Tietoevry Banking, said: “The trust placed in our firm by one of this region’s leading financial institutions demonstrates our growing reputation for service excellence not just in the Nordics, but across Europe. This is a significant win for Tietoevry Banking, adding to our growth ambition as a leading SaaS provider for financial institutions. We are fully committed and looking forward to delivering future-oriented, modular and sustainable card and payment services enabling our client to become even more competitive and relevant throughout the region.”
Mario Blazevic, Senior Vice-President and Head of Cards at Tietoevry Banking, added: “Today’s announcement shows us gathering momentum as an organization thanks to our proven track record for driving successful low-risk modernization that meet our clients’ specific needs for flexible systems and efficient processes ensuring new payment products come to market faster, improved transaction security and greater choice for our client’s household and corporate clients across the Nordics and Baltics.”
The project is expected to deliver significant business value to the client through modern enterprise software architecture focused on the delivery of fully secure card and payment services which are compliant with both national, regional and international standards, placing Tietoevry Banking’s client among the most modern banks in Europe for future-oriented and modular card and payment services.
You can read more about Tietoevry Banking´s card and processing services here.
For further information, contact:
Geir Remman, Head of Communication and Marketing, Tietoevry Banking,
+47 970 55 017, news@tietoevry.com
About Tietoevry Banking
Tietoevry Banking is the market-leading provider of financial SaaS solutions for the Nordics and beyond. We modernize banks and unlock significant value for clients with our proven low-risk implementation of our market leading software for Cards, Payments, Credit, Financial Fraud Prevention and Wealth, as well as a modular, pre-integrated Banking as a Platform solution. With unmatched scale, expertise and specialization, we drive the industry forward by enabling financial institutions to become more agile and efficient, accelerating their digital transformation journey. We are part of Tietoevry; the group’s annual turnover is approximately EUR 3 billion. Tietoevry’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs.