Following this announcement, Tietoevry Banking’s contract with the mandate is set to undertake a development of the card issuing and payments infrastructure for the Tier-1 bank, which serves multiple customers across the Nordics.
The agreement also includes the delivery of the company’s SaaS solution, which is set to enable a wide range of modern payment solutions, such as credit cards, debit cards (for both households and corporate clients), digital wallets, and more. Tietoevry Banking will also optimise the Card Management System for its customers’ entire portfolio.
At the same time, Tietoevry Banking will upgrade the bank’s transaction processing products, such as clearing, digital wallets, card authorisation, Access Control Servers, and management of the bank’s 3D Secure protocol which focuses on reducing and managing fraud risks. Furthermore, Tietoevry Banking will take the responsibility for the financial institution’s fraud monitoring and chargeback management, as a fully outsourced suite of business processes. This is set to improve agility, quality, and the overall range of banking and payment services for the bank, enabling the Tier 1-bank to design new revenue streams and optimise competitiveness.
This project is also expected to deliver significant business value to the customers through the use of modern enterprise software architecture, which focuses on the delivery of fully secure card and payment services. These solutions are compliant with both national, regional, and international standards.
Tietoevry represents a technology firm that provides its users and clients with the possibility to develop the needed solutions for the development of businesses and companies. The enterprise had multiple partnerships and product launches in the last couple of months, covering several different geographic areas around the world.
At the beginning of October 2023, Tietoevry Banking announced the launch of the Maldives instant payment system Favara by the Maldives Monetary Authority (MMA). The fintech solution provider acted as the technology partner for the landmark project, which also played a crucial role in the design and development procedure of the infrastructure and systems that were required to implement Favara in line with the MMA’s vision.
According to the press release published at the time, the Maldives Monetary Authority embarked on this project in order to offer citizens, customers, businesses, and residents the possibility to benefit from a fast, reliable, and secure way to conduct financial transactions. The infrastructure was also aimed to lay the foundation for expedited fintech development in the areas, as well as open the potential for cross-border transactions and ecommerce.
Earlier in May 2023, Tietoevry Banking launched its Tap to Phone tool, which was designed to enable customers across the region of Europe to accept payments from any contactless card of mobile wallet. According to the information from the press release, the Tap to Phone product was released in collaboration with Axxtrans, as the company was expected to focus on delivering the service to integration partners across its payment ecosystem in the region. The lasts collaborator utilised the financial institution’s solution was enabled to provide it to Electronic Cash Register (ECR) vendors, as well as other Point of Sale (POS) customers.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now