Latvia's Baltic Transit Bank has contracted with TietoEnator for the supply and implementation of a payment card processing system that will enable it to begin issuing EMV smart cards.
The vendor has also supplied Baltic Transit with risk management software that will improve customer profiling and speed up transaction processing as well as help the bank track fraudulent activity.
Dmitry Nikolin, head, payment cards, Baltic Transit Bank, says: "Implementation of smart card technology is in line with the requirements of our customers and with the latest trends of financial service delivery. We focus on continuous development of our product."
TietoEnator estimates that eight per cent of the cards currently in circulation in the Baltic region are chip-based.