Customer uptake and experiences
In addition to a strong position in its Nordic heartland, the company has clients in other European countries such as the UK (RBS is an important client) and Germany. On the payments side, Swedbank is a notable customer.
It uses ProSwitch for Pan-European ACH connectivity and for bulking and debulking traffic. ProSwitch provides the ‘intelligence’ to do this, said the bank’s SEPA programme manager, Kirstine Nilsson. It decided to adopt SCTs from day one and is one of the banks to have worked in this area with Tieto. ProSwitch was also selected by Nordea for northern
Europe in early 2011, one of its most recent signings. Another signing around the same time saw SEB become the first Nordic bank to offer corporate clients payment services with the Tieto Payment Factory via Swift. This is designed to enable corporate customers to globally centralise their bank connectivity leading to significant operational efficiencies and cost savings. SEB followed on from Pohjola Bank in Finland which began offering the same service towards the end of 2010. By mid-2011, Danske Bank was also seeking to provide a hub solution for corporate connectivity through work with Tieto and use of the Payment Factory. A growing area of Tieto’s business is in the provision of white-labelled services to banks looking to provide solutions to their corporate clients. For example, using an e-invoicing hub, it is possible to use e-invoice data as the basis for ‘intelligent’
corporate banking services and facilitate
extended payment solutions for corporate clients. The marketplace for e-invoicing is growing, and an increasing number of banks and corporates are offering the service. Currently the most advanced e-invoicing market is the Nordic one, where suppliers like Tieto are working in cooperation with the banks.
A further example of cooperation with the banks was
demonstrated in May 2006, when three Finnish banks announced that they had joined forces with Tieto and Microsoft to develop and launch a SEPA compliant corporate- to-bank payments tool. The partner banks, Nordea, OP Bank and Sampo, were expecting to deliver an internet-based automated payments processing solution that would operate between corporations and banks with ‘transparency, open connectivity and security’. The system would be developed by Tieto, on Microsoft’s BizTalk Server 2006 and Windows Communication Framework. It would adopt ISO 20022 and industry open standards including XML, SOAP and web services. Users would have the option to bi-laterally agree with Microsoft to extend use of the system to include SwiftNet messaging. The idea behind the project was to make the documentation available to other banks and software vendors. This would mean that each bank and corporate customer could choose its own software and technology provider or start to develop it itself. There has continued to be ongoing work from existing clients. For instance, Tieto carried out work for some of the
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Nordic banks in Latvia ahead of this country’s entrance into the Eurozone on 1st January 2014. One of these was DNB banka, for its operations and Tieto Card Suite platform. One of the supplier’s few African customers, Co-operative Bank of Kenya, extended its use of Tieto Card Suite in 2013 to support the issuance of local debit cards in South Sudan, running off the system in Nairobi. The bank had been a user of the system for around seven years ahead of this. Post 2014, Tieto has won a significant number of deals, primarily in the Nordic region. In August 2015, First Investment Bank in Bulgaria replaced its existing acquiring system with the Tieto Card Suite solution, mainly to minimize its daily processing costs. September 2015, Tieto signed a new agreement with International Card Services (ICS), a reputed credit card issuing business in the Netherlands, to deliver an end-to-end industry-specific cloud-based IT solution. The new, private cloud solution included tools and applications for handling payments, transactions and analysis of customer data provided as a pay per use model, and compliant to the regulatory requirements (PCI DSS). November 2016, Tieto developed Siirto, a real-time, mobile payment platform for Automatia, that operates and develops the nationwide Finnish pooled and shared ATM and deposit ATM networks. Sirrto was touted to be the first of its kind real-time, mobile payment solution in the country. December, Swedish-based Marginalen contracted Tieto to provide PCI DSS certified, end-to-end card services. While Tieto’s deal-wins have been primarily focused in
the Nordic region, some of its significant deals also emerged from other regions, mostly Africa. In May 2016, Tieto created the Interbank Card Centre for the Central Bank of the Republic of Azerbaijan, to facilitate electronic payments. The Tieto Card Suite platform was enabled to have full control over the domestic transactions by supporting local Visa and MasterCard branded payment card authorisation, transaction routing, interbank clearing and settlement, including full cycle of disputes case processing. In February 2017, Kenya Bankers Association (KBA), awarded a contract to Tieto to develop Kenya’s first industrywide switching platform in a move that will see banks enhance efficiency across all digital platforms. The solution is expected to enable KBA, via a subsidiary company called Integrated Payments Service Limited (IPSL), to develop instant payment services for the 45 KBA-member banks, becoming the first real-time interbank transaction platform in East-Africa region. In March 2017, Commercial Bank of Africa in Kenya, launched the country’s first digital and card payment solution, developed by Teito. The solution that allows easy card issuance for MasterCard, is expected to serve at least one million unbanked customers in Kenya. In July 2017, Tieto entered into a 3-year agreement with Finnish pension providers Keva and Varma to implement a new, automated payment system. The solution will automate the companies’ current business processes and will connect seamlessly to tax authorities, banks and the public pension system.
Payment Systems & Suppliers Report |
www.ibsintelligence.com
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