Tieto Card Suite solution opens new business possibilities for Orient Finans Bank
TIETO CORPORATION PRESS RELEASE 13 August 2014 at 10.00 EET
Orient Finans Bank (Uzbekistan) has completed a project on implementation and certification of Tieto’s Card Suite solution, ensuring issuing of MasterCard payment cards and their acceptance service in the bank’s terminals.
Tieto Card Suite is a technology platform that will be used by the bank for interaction with MasterCard payment system, providing a complete payment card life cycle, processing of transactions committed in the bank’s POS terminals, and assuring secure settlement for customers using payment cards.
The provided solution allows Orient Finans Bank to be an independent participant of the payment card market, reduce operational expenses, attract new customers and increase trust among the existing clients.
“The comprehensive Card Suite solution will allow Orient Finans Bank to develop and compete successfully on the international payment card market. Furthermore, it is an excellent foundation for future growth as Card Suite product line can be expanded flexibly and service scope widened gradually, thereby satisfying customer needs as per necessity,” says Maris Ozolins, Director, Cards, Tieto Financial Services.
“Orient Finans Bank has gained a strong position in the Uzbek market of banking services in a short period of time. We are glad to cooperate with Tieto on the implementation of our own processing center on the basis of Card Suite software. Orient Finans Bank is a principal member of MasterCard and is now issuing and servicing four card types of the mentioned payment system. The newly built processing center will be able to provide its customers with flexible rates, new services and more opportunities for using payment cards as well as attract new customers. These possibilities will definitely have a positive effect on the Orient Finans Bank’s retail business,” says Bakhtiyor Ustamuhamedov, CEO of Orient Finans Bank.
For further information, please contact:
Maris Ozolins, Director of Cards, Tieto Financial Services, +371 67510000
Bakhtiyor Ustamuhamedov, CEO of Orient Finans Bank, +998 71 1407000
Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers’ business transformation. At Tieto, we believe in professional development and results.
Founded 1968, headquartered in Helsinki, Finland and with approximately 14 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.6 billion. Tieto’s shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.
Orient Finans Bank is a prospective, stable and reliable bank. The work of the bank is focused on successful business development and increasing of customer welfare. The main prerequisites for the Bank are professionalism, reliability, responsibility, quality and high corporate intelligence.