TietoEnator, the leading European supplier of IT solutions, and Regional Investment Bank, Latvia, have entered into an agreement for implementing a solution for payment card issuing.
TietoEnator's solution will enable the Bank to issue payment cards in line with the standards of international payment organizations. In early summer 2006 Bank plans to start issuing of MasterCard payment cards. EMV standard Maestro, Mass, Business, and Gold cards will be offered to Bank's clients, the most trustworthy of whom will be offered credit cards.
The functionality of a TietoEnator's solution will enable the Bank to build up its own spectrum of card products and offer these to customers. Thereby Bank's business development potentials will be enhanced, while the customers will enjoy all rewards of the use of payment cards.
Conformity of TietoEnator's software with the standards of international payment organizations will secure its flawless functioning, as evidenced from the experience of TietoEnator's customers.
"In perfecting our services in a piecemeal way, we are now at a phase when card issuing has to be launched. Having assessed our business partners, we chose TietoEnator as the most reliable one who is able to implement a solid solution in a short time. TietoEnator's system will enable the Bank to offer its customers the card that conforms to international standards and embeds the innovations and advantages based on these. Admittedly, the card design will integrate the MasterCard's most recent technical solutions," says Haralds Abolins, president of Regional Investment Bank, Latvia.
"From year to year payment cards are becoming increasingly popular among users of banks' products, for these are handy in use and offer wide potentials. Having chosen the TietoEnator's solution - which offers to customers new products and services kept up with market trends - Regional Investment Bank has made reasonable investment into its business development," admits TietoEnator's Chairman of the Board Maris Ozolins.