Source: Nomad Software
D8 Datu Risinajumi, a Latvia-based IT company, has signed a strategic partnership agreement with UK-based NOMAD Software, the leading provider of card payment solutions.
The agreement will enable NOMAD Software broader access to the Baltic and ex-USSR states at a time when the rate of card uptake is growing exponentially.
D8 is providing banking related software services in Latvia and the Baltic region. The company's product portfolio includes online fraud detection system Stronghold, IT resource monitoring and SLA management system ZABBIX as well as many custom developed solutions.
NOMAD Software is already well established in Latvia having provided payment solutions to leading financial institutions including Parex Banka and Latvijas Krajbanka. The partnership will enable NOMAD Software to leverage D8's team of professional consultants who have in-depth knowledge of the card marketplace, as well as established relationships with a significant number of financial institutions throughout the region.
Juris Scerbickis, Executive Director of D8 said: "Our sound understanding of the Baltic banking and financial sector coupled with a strong presence in the region means that we are perfectly positioned to help to extend NOMAD Software's presence in this market. We look forward to working closely with NOMAD to provide ongoing support and consultancy services to its existing customers in the region, as well as being able to provide functionally rich payment solutions to other banks within the territory. The partnership with NOMAD will allow partners to provide more powerful integrated solutions in the market combining know-how and products of both companies."
John Yeomans, Chief Executive of NOMAD Software commented: "D8 is our partner of choice in the Baltic region and will undoubtedly give us even greater penetration in the market. Fortunately for us, D8 has a team of experienced CORTEX (NOMAD's prime payments processing solution) consultants in place, so they will immediately be able to complement our own activity within the region."
He added: "The card market throughout the Baltics is undergoing rapid growth, particularly since Latvia joined the EU. Debit cards are still the preferred choice for consumers, encouraged by a growing range of banking services including a substantial increase in the number of merchants using POS terminals for purchases over the counter. This is clearly an exciting time for the banking market in the Baltics - and we are looking forward to strengthening our presence at a time of immense change."