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Nordic fintech startup Qliro moves into savings account market

14 June 2017  |  4581 views  |  0 Source: Tieto

To broaden their offering within Financial Services, Qliro has launched a digital service for savings accounts. The underlying technology comes from Emric, a part of Tieto.

In March 2017, Qliro became a credit market company under the supervision of the Swedish Financial Supervisory Authority, enabling them to launch new financial services for both e-commerce and consumers. Qliro was founded to simplify e-commerce payments and the company is now expanding its consumer offering within Financial Services with secure and mobile-friendly savings.

"The company has recently launched savings accounts with Swedish state deposit insurance. Qliro chose Emric, a part of Tieto, as supplier of the digital solution for the deposit value chain", says Pedram Tadayon, CEO at Emric.

Tieto’s system means that Qliro, instead of developing their own system from scratch, has been able to buy a ready-made solution and then build their own customer interface. For Qliro’s customers, this means a fully digital and secure service covered by state deposit insurance.

Qliro has created a user-friendly and secure product supported by the system from Tieto. The collaboration was initiated a while ago and has, through close contact and continuous dialogue, worked well according to Qliro. Qliro’s proprietary front end communicates with Tieto’s system in real time through API. For the consumers, this means access to secure and mobile-friendly savings. The service is completely digital and activated through BankID, the leading electronic identification in Sweden.

"Our system is built on open APIs, so it is easy to build mobile solutions with it. We become a part of the eco system and it enables us to launch other services in the future", says Pedram Tadayon, CEO at Emric.

Emric delivers the underlying system (Emric’s Managed Services solution) for the entire deposit value chain from automated customer registration to administration. The solution includes the core system that entails a digital self-service platform, verification through BankID, accounting, but also staffing for general administration.

All new applications are handled electronically and contracts and documents are signed through BankID. Customers can manage their accounts through an array of channels, such as mobile devices. The implemented solution gives Qliro an easy and intuitive way of managing their savings accounts.

"We are very pleased to launch our automated deposit service with Qliro. By using Emric’s Managed Services, Qliro can be confident in meeting the legal requirements and efficiently managing administration, while Qliro gets the flexibility to offer new products and services with shorter lead times for their customers", says Pedram Tadayon.

Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. www.tieto.se

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