13 June 2024
Tietoevry Banking is expanding its card personalization capacity in Riga and investing in a new industry leading personalization site. This doubles the personalization capacity of payment cards for fintech companies and banks across the world. The investment is part of Tietoevry Banking’s growth strategy, designed to be a leading modernization partner in the global financial sector. The operation in Riga plays a vital role in the expansion of Tietoevry Banking’s card offerings, speeding up and extending its services to more markets outside the Baltics and Nordics.
The new personalization facility is built in accordance with the highest security and quality standards and is certified by Visa and Mastercard. The new hub will speed up deliveries, allowing for personalized cards to be delivered to European countries by overnight delivery. The new facility is covering 2,000 square meters and with a big increase in capacity. With this investment, Tietoevry Banking is prepared to meet the fast-growing demand for physical, sustainable, and personalized cards.
With consumer preferences strongly leaning towards card-based payments for their familiarity, security, and convenience, Tietoevry Banking's investment in Riga is a planned move in a payments landscape where physical cards continue to play an integral role, meeting both consumer demands and technological advancements.
“Our expansion fits well with current trends showing that cards are still a go-to-choice for payments. Even with the rise of digital wallets, card use in Europe grew significantly last year, totalling more than half of all non-cash payments. Payment cards have stayed popular because they're secure and easy to use and have features such as contactless payments. Our decision to double the card capacity in Riga is a direct answer to this increasing demand and in line with our growth ambitions,” says Mario Blazevic, Head of Cards at Tietoevry Banking.
Tietoevry Banking continues to lead in card innovation with the delivery of new sustainable materials. Regulatory requirements in line with PSD2 and digital and physical security remain a cornerstone. The new location boasts a larger and more advanced capabilities that adheres to the highest industry standards, ensuring that Riga continues to be an important hub for global card personalization.
Additionally, the new personalization site provides an API service for postal services with a global provider, supporting both tracked and untracked shipping worldwide, with secure and automated processes. The proximity to relevant partners in combination with efficient logistics will enable quick delivery times to global clients.
The new facility will specialize in making customized and sustainable prepaid, debit and credit cards. This enables options to include cardholder-specific details, security keys, biometric verifications, and customizable visuals, for secure payment processing. The new facility will support Tietoevry Banking in maintaining its strong market position in the Nordics and Baltics at the same time as the company broadens its international presence and reach.
The new facility is already up and running and will be inaugurated on 14th June. In addition to Riga, Tietoevry Banking also operates card personalization facilities in Norway and Finland, personalizing approximately 20 million cards per year.
Further reading: Card use keeps growing
For more information, please contact:
Tietoevry Newsdesk, news@tietoevry.com, tel. +358 40 570 4072
Tietoevry Banking is the market-leading provider of financial SaaS solutions for the Nordics and beyond. We modernize banks and unlock significant value for clients with our proven low-risk implementation of our market leading software for Cards, Payments, Credit, Financial Fraud Prevention and Wealth, as well as a modular, pre-integrated Banking as a Platform solution. With unmatched scale, expertise and specialization, we drive the industry forward by enabling financial institutions to become more agile and efficient, accelerating their digital transformation journey. We are part of Tietoevry; the group’s annual turnover is approximately EUR 3 billion. Tietoevry’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. https://www.tietoevry.com/en/banking/
