Tietoevry Banking has announced the expansion of its card personalization services in Riga, Latvia, enhancing its global FinTech capabilities.
This expansion involves the establishment of a new, industry-leading personalization site that effectively doubles the company’s capacity to personalize payment cards for banks and FinTech companies worldwide. This development is integral to Tietoevry Banking’s strategic growth plans, positioning it as a pivotal modernization partner in the global financial sector.
The newly built facility in Riga adheres to the highest security and quality standards, boasting certifications from major financial services companies, Visa and Mastercard. It covers an expansive 2,000 square meters and promises to significantly accelerate the delivery process, enabling overnight card deliveries to various European nations.
Head of Cards at Tietoevry Banking, Mario Blazevic, emphasized the strategic nature of the expansion, “Our expansion fits well with current trends showing that cards are still a go-to choice for payments. Even with the rise of digital wallets, card use in Europe grew significantly last year, totalling more than half of all non-cash payments. Payment cards have stayed popular because they’re secure and easy to use and have features such as contactless payments. Our decision to double the card capacity in Riga is a direct answer to this increasing demand and in line with our growth ambitions.”
The Riga facility is not just about expansion but also innovation, with a focus on sustainable material use and compliance with regulatory requirements like PSD2, which governs payment services within the EU. The facility also includes a new API service for postal deliveries, collaborating with a global provider to offer both tracked and untracked shipping options worldwide.
This investment underscores Tietoevry Banking’s commitment to maintaining a strong market position in the Nordics and Baltics while also broadening its international footprint. The facility is already operational and will be officially inaugurated on June 14. It joins the company’s existing network of personalization facilities in Norway and Finland, which together handle the personalization of approximately 20 million cards annually.
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