Tsys announced today that SpareBank 1, a leading Norwegian banking group, has signed an agreement to license its Prime 4 card management solution. SpareBank 1 will deploy the solution to support its issuance and issuer processing of a range of MasterCard and Visa retail credit, charge, prepaid and contactless cards in order to meet the evolving needs of Norwegian consumers.
Owned by an alliance of 16 cooperative banks, SpareBank 1 Gruppen has a major presence across Norway with a total of 352 branches, making it one of the largest providers of financial products and services in the Norwegian market. The search for a proven card management solution and trusted partner was initiated in 2011, following the group's decision to create its own card centre infrastructure.
"Providing competitive banking products and services to consumers is our ultimate goal, and working with TSYS will help us realise further expansion in the area of cards and payments. TSYS met all our partner criteria and managed to differentiate themselves on many levels with their proven PRIME licensing solution, global footprint and experienced Nordic track record. They backed this up with a partnership model focused on security, reliability, growth and shared customer values," said Øivind Mellbye, project manager, SpareBank 1 Gruppen.
With a Nordic presence dating back to 1997, TSYS licensing solutions have been designed to accommodate local market requirements. PRIME 4 offers users a Web-based, scalable solution built in accordance with Service Orientated Architecture (SOA) for improved interoperability and increased operational efficiency. It provides single-platform support for multiple products and schemes, and is highly parameterized enabling flexibility and user-friendliness, allowing for faster speed to market and business agility.
"PRIME 4 was designed to meet the exacting standards of TSYS data centers while drawing from more than 20 years of licensing experience and innovation. It will provide SpareBank 1 with a future-proof platform for expansion to support its business development strategy and future growth. This agreement also serves to reinforce our commitment to the Norwegian market and Nordic region as a whole," said Gaylon Jowers, president of TSYS International.
PRIME has an extensive issuer and acquirer footprint throughout Europe, CIS, the Middle East, Africa and Asia. Its footprint extends across more than 130 financial institutions in more than 70 countries.