Version 1 is an AI and digital transformation specialist collaborating with global organisations to embrace technology and promote responsible innovation. The company offers solutions to client challenges through technologies and expert teams.
The two companies aim to expedite the digital transformation of European financial institutions by merging Tietoevry Banking's established SaaS solutions with Version 1's knowledge in modernising banking systems and their specialisation in AI compliance, ethics, and risk management.
Tietoevry Banking is expanding globally, with nearly 20% of its revenue generated outside the Nordics, focusing on growth in the UK, Ireland, and Spain. The partnership offers advanced fraud prevention, financial crime monitoring, and efficient lending solutions, increasing capabilities in the Card value chain. According to the company data, Tietoevry processes over 4.3 billion transactions annually, blocking 94% of fraudulent activities in real-time.
This partnership empowers European banks with skilled professionals to support their digitalisation efforts. By merging innovative SaaS solutions with industry expertise, this collaboration equips financial institutions to thrive in an increasingly digital world, providing secure, efficient, and customer-focused banking services.
Version 1 will bolster Tietoevry Banking’s AI capabilities, fast-tracking advancements in financial technology. This will allow banks to implement best practices and promote responsible AI adoption, improving the accuracy of fundamental tasks while enabling a better allocation of resources toward core competencies.
In March 2025, Tietoevry Banking revelead a partnership with Fana Sparebank. Following this announcement, the collaboration was anticipated to encompass core banking systems, card and payment solutions, as well as updated products for preventing financial crime. Effective 1 April 2025, this partnership aimed to improve the bank's mobile and self-service functionalities, which included self-service loan management options.
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