Tieto and First Investment Bank launch in-house acquiring

Tieto and First Investment Bank, one of the major banks in Bulgaria, have replaced the existing acquiring system with Tieto Card Suite solution. Now the bank will be able to offer its clients a full range of acquiring services.

The replacement of the existing system with a new one will allow First Investment Bank to minimize its daily processing costs and facilitate launch of new services later on, as the bank continually improves its in-house infrastructure.

Tieto Card Suite for acquiring provides a complete spectrum of merchant processing and servicing options, and allows more flexible control and analyse of daily operations, which enables better understanding of customer needs and optimization of the product and service portfolio. Moreover, with this solution, financial institutions can fully withdraw from attracting third party services.

- Within this project, we have successfully migrated large volumes of data without any impact on system performance, thus totally undetected by bank customers. First Investment Bank has chosen Tieto in view of our long-term and fruitful cooperation, and their confidence in Card Suite technical and competitive capabilities, says Māris Ozoliņš, Director of Cards at Tieto.

- We have always been interested in offering our clients the most advanced and reliable banking products and services. On behalf of First Investment Bank I would like to thank Tieto for the successful partnership and the pleasure to work together, says Mariana Sadzhaklieva, Member of the Managing Board of Fibank and Director of Operations Department.

For more information please contact:

Maris Ozolins, Director of Cards, Tieto, phone +371 67510000

Ivailo Alexandrov, Corporate Communications Director, First Investment Bank, phone: +359 28002753

Tieto is the largest IT services company in the Nordics providing full lifecycle IT services. We also provide global product development services for companies in the communications and embedded technologies arena. Through industry insight, technology vision, and innovative thinking, Tieto proactively strives to inspire and engage our customers in finding new ways of accelerating their business.

Building on a strong Nordic heritage, Tieto combines global capabilities with local presence. Headquartered in Helsinki, Finland, Tieto has over 13 000 experts in more than 20 countries. Turnover is approximately EUR 1.5 billion. Tieto’s shares are listed on Nasdaq in Helsinki and Stockholm. www.tieto.com

First Investment Bank (Fibank) is the biggest bank with Bulgarian capital, which is developing and strengthening its position as a financial group with main business in the Republic of Bulgaria and regional presence through foreign operations in Cyprus and Albania.

Fibank is an innovative and customer-oriented credit institution that offers a diverse range of products and services for individual and corporate clients. With experience in corporate banking and broad presence in the market of retail banking, First Investment Bank is among the leading institutions in the country in card business and international payments. Fibank is preferred bank for savings of the population, which offers a high quality of customer service in accordance with the best banking practices. Fibank is among the pioneers in the business with investment gold and other precious metals with unique for the Bulgarian market products and services. First Investment Bank offers its customers advanced solutions and modern banking. www.fibank.bg/en