IBM banks global collaboration with Tietoevry

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IBM has formed a global technology and consulting collaboration with Tietoevry for its financial technology software unit, Tietoevry Banking to help deliver secured and innovative solutions for payment and transaction technology to banks globally.

Tietoevry Banking chose to collaborate with IBM to leverage IBM Cloud for Financial Services and IBM Consulting to accelerate clients’ hybrid cloud adoption while addressing the security and compliance regulations with driving innovation.

In the synergetic collaboration, Tietoevry Banking will onboard its Payments software portfolio, such as Card Suite, Payment Hub, Virtual Account Management, and Instant Payments Solutions, to IBM Cloud for Financial Services and provide its managed services and SaaS capabilities to help global banks facilitate card management and payments on an industry cloud with built in security and compliance controls.

Additionally, both companies will work together to help joint clients transform and modernize at scale and support them in their journey to a hybrid cloud.

Paul Krogdahl, CTO, global core banking and payments ISV practice at IBM, said: “IBM has a long history working with clients in highly regulated industries and IBM Cloud for Financial Services was designed to help banks drive innovation and to support security and compliance needs. This initiative with Tietoevry Banking further expands our technology portfolio of financial services ecosystem partners with additional capabilities. We expect to see robust growth in the payments, cards and banking services as a platform space as an increasing number of banks globally choose to consume services as part of their business strategy rather than buying or building software on their own.”

Ilkka Korkiakoski, head of Tietoevry Banking, payments, said: “For Tietoevry Banking, the collaboration signifies a leap into a financial market sector that is on another scale. Together with IBM we can offer significant added value to the financial sector: scalable consultancy practice for system integration and volume transition to cloud designed to support regulatory compliance, best practices from the SaaS and SLA industries, automation and flexibility in performance and volumes processing. Combining IBM’s state of the art with our deep knowledge in payments and cards is a perfect match to drive the payments industry to the next level. It will open new doors and can extend our footprint and delivery capability outside the Northern Europe.”