Tietoevry Banking, a leading Nordic provider of financial SaaS solutions, has announced a significant collaboration with a Tier-1 Bank in the Nordics, known for serving millions of individual and corporate customers across the region.
This partnership is centered on a major revamp of the bank’s card issuing and payment infrastructure. Tietoevry Banking’s role involves upgrading the Card Management System for over 5 million cards, facilitating about 200 million transactions monthly. The bank will benefit from a variety of modern payment services, including credit and debit cards for households and corporate clients, digital wallets, and more.
Tietoevry Banking specializes in financial SaaS solutions, driving digital transformation in the banking sector. They are renowned for their low-risk, high-value software implementations in Cards, Payments, Credit, Financial Fraud Prevention, and Wealth.
This partnership aims to enhance the agility, quality, and range of banking and payment services for the bank. It will enable the Tier-1 Bank to develop new revenue streams and enhance its competitiveness in the market.
Further details of the agreement reveal that Tietoevry Banking will also upgrade the bank’s transaction processing services. This includes managing card authorization, clearing, digital wallets, Access Control Servers, and the bank’s 3D Secure protocol, which reduces fraud risk. Tietoevry Banking will also handle fraud monitoring and chargeback management as fully-outsourced business processes.
This transformation is expected to deliver significant business value to the client, positioning the Tier-1 Bank among Europe’s most modern banks in card and payment services.
Tietoevry Banking CEO Klaus Andersen 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.”
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