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October 8, 2014updated 04 Apr 2017 4:05pm

Ecobank selects Tieto payment solution to develop processing network

Ecobank Group has selected Tieto Card Suite payment solution to develop a processing network, which is now operating in 34 countries.

By Verdict Staff

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Ecobank Group has selected Tieto Card Suite payment solution to develop a processing network, which is now operating in 34 countries.

The new platform will allow Ecobank to pursue new levels of international commercial banking, enhanced profitability, and operating efficiency.

With Tieto Card Suite, Ecobank has obtained PCI DSS certification, implemented smart cards and a fraud management system that have reduced the losses related to fraudulent activities with payment cards.

Maris Ozolins, director of cards at Tieto Financial Services, said: "Through standardized, but operationally efficient approach Ecobank has been able to successfully expand to a large number of countries, thus minimizing costs and potential risks.

"By implementing a unified IT platform that included Tieto’s Card Suite, Ecobank has attained common business and IT practices and improved customer servicing in all countries."

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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