Tietoevry Banking partners with Butterfield

Tuesday 13 February 2024 09:31 CET | News

Financial SaaS solution provider Tietoevry Banking has partnered with full-service bank and wealth manager Butterfield to allow the latter to issue credit cards in the current digital landscape. 

As per the information detailed in the press release, Tietoevry Banking signed a contract with Butterfield to offer a credit card processing platform, as well as card production and customisation services leveraging sustainable payment cards produced from recycled plastic. Provided as a Software-as-a-Service (SaaS), Tietoevry Banking’s credit ledger delivers end-to-end credit card transaction processing, dispute handling, financial crime prevention, customer support, and mobile and wallet-based payments.

Financial SaaS solution provider Tietoevry Banking has partnered with full-service bank and wealth manager Butterfield to allow the latter to issue credit cards in the current digital landscape.

Tietoevry Banking – Butterfield collaboration objectives

As a full-service bank and wealth manager, Butterfield offers banking services, including deposit, cash management, and lending solutions, for individual, business, and institutional clients. Additionally, the bank’s wealth management services are comprised of trust, private banking, and asset management. By providing its credit card offering to Guernsey and Jersey residents, with credit cards being issued from Guernsey, Butterfield is set to have an environmentally friendly profile, while supporting spending at local businesses with the capability for cardholders to earn rewards through cash-back promotions, with a proportion of every spend being donated to local charities. According to Butterfield’s officials, the bank chose to issue Tietoevry Banking’s sustainable card made of 95% recycled PVC plastic to assist its commitment to operate responsibly, in alignment with universal sustainability standards.

With its operations based in the Nordics and a strong presence in the UK where it serves over 23 banks, Tietoevry Banking developed a sustainable market-lending payment card service. The company aims to modernise banks and deliver additional value for clients with the low-risk implementation of its software for cards, payments, credit, financial fraud prevention, and wealth, as well as a modular, pre-integrated Banking-as-a-Platform solution. With its scale, knowledge, and capabilities, Tietoevry Banking intends to support the development of the industry by allowing financial institutions to increase their agility and efficiency, accelerating their digital transformation journey. Representatives from Tietoevry Banking underlined that the partnership with Butterfield showcases the company’s growth strategy in the UK and Ireland of offering scalable, sustainable, and secure cloud-based card services that meet the industry’s regulatory requirements and provide an improved user experience for both small and large banks.

Tietoevry Banking’s past developments

In addition to its collaboration with Butterfield, Tietoevry Banking entered several partnerships in recent months to advance its development strategy. At the beginning of December 2023, the company joined forces with Tier 1-bank to provide card issuing and payment software services to clients in the Nordics. As of the announcement, Tietoevry Banking’s contract with the mandate was set to undergo development of the card issuing and payments infrastructure for the Tier-1 bank, which was intended to serve multiple customers across the region. Moreover, the agreement included the delivery of Tietoevry Banking’s SaaS solution, which included credit cards, debit cards, and digital wallets, among others.

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Keywords: credit card, payments , SaaS, debit card, transactions , partnership
Categories: Payments & Commerce
Companies: Butterfield, Tietoevry
Countries: Guernsey, Jersey
This article is part of category

Payments & Commerce




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