National Bank of Greece (NBG) has concluded the migration of its debit card portfolio to the WAY4 card management system delivered by digital payments software provider OpenWay.
The technology vendor said the new platform will supports the bank’s vision to improve its position in Greece and further boost business growth.
OpenWay helped NBG to replace its legacy mainframe systems with its future-ready platform WAY4.
The new card management system supports a variety of digital payment such as card and account issuing, transaction switching, merchant acquiring, omni-channel digital banking, digital wallets and an e-commerce gateway.
To date, over four million debit cards have been migrated to WAY4. The lender is now in the process of migrating its credit and prepaid card portfolios and its POS and ATM acquiring business to WAY4. The bank will also replace its Base24 switch to the payment schemes.
As a result of implementation of WAY4 card management system, NBG will be able to slash the total cost of ownership of its IT infrastructure by consolidating its card business on a single platform.
Additionally, the platform will also reduce operational expenses by eliminating outsourcing and certain internal operational costs.
NBG sector head of cards division Pericles Papaspyropoulos said: “Delivering an amazing customer service experience is a top priority for us and the centralisation of card business on WAY4 enable us to operate more efficiently, react to new market trends quickly, and be more competitive in the open banking environment.”