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Tieto wins EUR7 million IT contract with Volvofinans Bank

10 July 2014  |  1772 views  |  0 Source: Tieto

Tieto has signed a five-year agreement to provide Swedish Volvofinans Bank with extensive IT infrastructure, including a crucial data protection solution covering the bank's 1.1 million Volvo Card holders. The order is initially estimated at around EUR 7 million.

"We were looking for a strategic partner who can provide fast and secure services to Volvofinans Bank. Our business is growing and experiencing rapid change. We are therefore convinced that Tieto is the right partner for us to work with in order to deliver the best and most secure services to our customers," says Conny Bergström, CEO of Volvofinans Bank.

Tieto will provide Volvofinans Bank with IT infrastructure and end-user services, including management on several IT platforms. The transition of services from the current IT supplier will start at the end of this year and will be fully transferred in the first half of 2015.

In the past few years, card transactions have by far come to exceed cash payments in Sweden. To ensure card data security, Tieto will therefore operate parts of the server environment according to the international Payment Card Industry Data Security Standard (PCI DSS) - a protection standard endorsed by organizations such as American Express, MasterCard Worldwide and Visa Inc.

In addition, Tieto will deliver a centralized environment for hosted applications and will be responsible for the end-user Service Desk.
"This deal proves Tieto's ability to deliver safe and reliable IT infrastructure services to both the automotive industry and the banking sector," says Ola Noreklint, Customer Executive at Tieto.

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