From now on, all transactions made with Ikano Bank's 39,000 cards in Finland will be processed by PBS.
This means that PBS will process all Ikano Bank's card transactions in the entire Nordic region.
In 2007, Ikano Bank entered into an agreement with PBS that entails that PBS supports Ikano's card business in the countries in which Ikano Bank operates. As a result of this agreement, Ikano Bank will gain a higher degree of efficiency as its card business will now be consolidated centrally.
The conversion of Ikano Finland's cards to PBS' platform follows a set of similar conversions involving Ikano Denmark, Ikano Bank Norway and Ikano Bank Sweden for which PBS already processes transactions and related services.
Head of Operations at Ikano Bank, Bengt Eriksson, has the following comment on PBS' solution for Ikano Bank:"An important part of our efforts to realise economies of scale is through implementing shared solutions for our operations in different geographical markets."
"PBS strives to be the Nordic Payment Hub and to be competitive in the Nordic and European market."By implementing a shared solution covering Ikano's card business in Denmark, Norway, Sweden and Finland, we will achieve greater volumes, reduced costs and increased efficiency", says Susanne Brønnum, Director for Cards at PBS A/S.
Next step is to have Ikano Germany converted to PBS' platform in the second half of 2009, which means that Ikano Germany's operation will be based on the same solution as the rest of the Ikano Group.