Finland-based software services firm Tieto has reached an agreement with Sweden-based Marginalen Bank to provide PCI DSS certified end to-end card services.
Under the five-year agreement, the card solution will be offered as a service using cloud-enabled technology and also include business process outsourcing.
Tieto said that it will provide the bank with a scalable and cost-efficient solution, compliant with the regulatory requirements of the financial industry.
Marginalen Bank has been a customer of Tieto since 2008 when Tieto started offering core banking as a service to the bank.
The new agreement extends the partnership to also include card services running on Tieto Compliance Cloud, which will help the Swedish lender to slash operational expenses as the bank will not require maintaining or auditing its own servers and IT infrastructure.
Marginalen Bank CIO Bo Andersson said: “The key deciding factors for us was Tieto’s ability to offer a wide range of functionality supporting our cards business delivered on a secure and compliant cloud solution.
“We are very confident with the choice of Tieto, as they have a deep understanding of our needs and actively propose solutions that add value to our IT-operations."