NOBA Bank Group, one of Europe’s leading specialist banks, has teamed up with Tieto Banktech to reinforce payment security across its operations, with the vendor set to deploy Verification of Payee (VoP) capabilities for the group.
The rollout will support NOBA’s brands, Bank Norwegian and Nordax Bank, adding a further layer of protection to the group’s existing fraud and payments framework. Finland has been selected as the initial launch market, though the underlying infrastructure has been built so it can be extended to every territory in which NOBA is active.
The project will cover two schemes, the European Payments Council (EPC) Verification of Payee and the Nordic Verification of Payee (NVOP), allowing NOBA to handle both Euro transactions and payments across the Nordic region. Tieto Banktech will deliver the solution as a SaaS offering hosted on AWS public cloud, giving the bank a scalable route to expansion throughout Europe.
The partnership arrives against a backdrop of escalating payment fraud on the continent. A joint 2025 study from the European Banking Authority (EBA) and the European Central Bank (ECB) found that fraud losses across Europe climbed from €3.5bn in 2023 to €4.2bn in 2024, with fresh fraud typologies continuing to surface.
NOBA operates across multiple European markets, and the deployment is designed to create a uniform payment experience spanning its various brands and geographies. Instead of tackling VoP on a market-by-market basis, the platform is intended to provide a configurable, scalable base that can be adapted for each brand and country.
Bank Norwegian head of tech, projects and product development Andreas S. Pedersen said, “For us, it has always been about delivering the best possible experience for our customers. That means never having to choose between security, convenience, and scalability. We’re already in a strong place, and with VoP we can build on that. It lets us retain and enhance the payment experience our customers expect, while adding an additional layer of protection, all in a consistent and tailored way across our markets.”
Tieto Banktech head of global payments Sathish Padmanathan said, “We are pleased to partner with NOBA Group and provide a state-of-the art Tieto Payment Platform, enabling them to continuously strengthen their defences against evolving fraud risks while keeping the payment experience seamless for their customers. Utilizing the full potential of our modern cloud-based Verification of Payee solution.”
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