By joining BIAN, Tietoevry Banking intends to scale its global presence and advance the banking industry by adopting international standards and entering multi-vendor collaborations. The announcement comes just a few months after Tietoevry Banking teamed up with Tapster to increase wearable paytech across Europe. The company intended to offer Tapster’s payment solutions to its client network of European financial institutions, enabling individuals to access more contactless payment options. Also, partnering with Tietoevry Banking was set to allow Tapster to broaden its customer base, supporting banks in delivering users with access to modern payment methods based on their needs.
BIAN offers a platform where banks can collaborate with software vendors to develop regulatory-compliant and compatible banking services. Through this, industry participants, such as Tietoevry Banking, can integrate with other relevant members of the financial services sector.
The initiative falls in line with the company’s strategy to provide modular and optimised services customised to meet the needs, demands, and preferences of customers while remaining compliant with regulatory requirements and benefiting from Open Banking opportunities. At the same time, entering BIAN enables Tietoevry Banking to participate in the network’s working groups centred on payments, transaction banking, and lending, equipping it with the ability to participate in upcoming standards and open additional avenues for partnership with other industry contributors.
Furthermore, being a member of BIAN assists Tietoevry Banking’s strategy to solidify its position as a provider of software solutions across Europe. By participating in BIAN, the company aims to ensure that its suite of products and services keeps pace with industry developments, providing customers across the world with secure and compliant banking experiences. Representatives from Tietoevry Banking commented on the announcement, mentioning that the banking industry’s modernisation path can be assisted by integrating software capabilities around ecosystems that provide value to the end customers. The company also underlined that Open Banking, Embedded Finance, and Banking-as-a-Platform are just a few examples where multiple vendors, banks, and non-financial institutions can collaborate to include financial products in the customer experience.
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