As with all new market initiatives it is never easy to predict exactly what the future will hold for banks and financial services providers. That unpredictable nature makes it crucial for all those affected by SEPA to carefully plan their strategy to compete in the market and create their own unique service offerings and differentiate them from the competition.

Thus, Full SEPA involves much more than implementing new technology solutions. Success will only happen if the correct processes are also in place. This enables SEPA solutions to be tailored to meet the individual needs of each financial institution or corporate. Institutions can roll out the various solution components they need to ensure they are ready to meet the challenges of SEPA.

The Full SEPA approach provides a set of technologies that creates a one-stop-shop for all of an organisation's integration needs. This can enable:

• e-invoice / e-billing services
• Business-to-Business integration (B2B)
• Corporate-to-Bank integration (C2B)
• Document storage and presentment (eHotel)
• Cost-effective and differentiated payment engine processing

SEPA introduces new issues to the payments industry
SEPA will fundamentally change the banking and payments business. Many are concerned that a flat charge for Pan-European payments will lower revenues and reduce profits if processing costs are not reduced.

Disjointed legacy payment architectures will hinder banks looking to capitalise on SEPA. Effective and highly efficient new payment processing solutions are needed to address the demanding new requirements.

Seeing SEPA as just another regulatory compliance issue will lead to missed opportunities. It represents a unique opportunity to re-think business models, offer competitive value-added services and thereby open up new revenue streams.

SEPA solutions must be tailored to meet the individual needs of each institution. The Full SEPA approach provides a set of technologies that enables cost-effective payment engine processing, supports e-invoicing and e-billing services, systems integration, document storage and presentment, and Enterprise Application Integration.

TietoEnator views the changes being introduced by SEPA as more than changing a bank's payments business. The driving force behind the introduction of Full SEPA is to derive a model that helps payment providers assess SEPA readiness and implement payment solutions that create business value.

European focus, quality and service excellence

Tieto's Global Payments Solution originates from a close co-operation with some of the largest and most significant European banks.

Tieto is among the leading architects in building a more efficient information society and one of the largest IT services companies in Europe. Tieto specialises in consulting, developing and hosting its customers’ business operations in the digital economy. The Group’s services are based on a combination of deep industry-specific expertise and latest information technology. TietoEnator has more than 15 000 experts in more than 25 countries.

Tieto Financial Services is the leading provider of information technology services to financial institutions throughout Europe. With offices in 14 countries and 2,500 employees dedicated to banking, insurance and finance, our core business solutions and services ensure a unique competitive strength to more than 400 customers worldwide. By joining forces in partnership with our customers, we support them in modernising and transforming their core applications. Our solutions are built on leading technologies and are the spearhead of Tieto’s commitment to the European and international marketplace.

Our global solutions include systems in core banking, e-banking, payments and cards. Our customers include major banks, insurance companies and financial organisations who have chosen us for our state-of-the-art solutions and our capability to take total responsibility for any assignment.

Our long-term product strategy, clear release policy and long-term release plans provide the kind of predictability needed by our customers for efficient planning and budgeting of their operations, whilst secure in the knowledge that whatever may come in the payments world, it will be covered.

Strong achievements at major customer implementations and a proven international track record confirm Tieto's position as the leading European provider of payment solutions.

When banks choose a solution provider for a mission critical application such as a payment processing engine, they expect the supplier to be a long-term business partner.

The ability to process high volumes of mission-critical transactions in an efficient, stable and reliable way has been proven in a number of leading European Banks.

Tieto's fast growing customer list is a clear indication that the customers are confident that the company will remain a market leader in the payments area.

Characteristics

• Proven ability to deliver on time and on budget
• Strategic view on customer relationships
• Leading edge competences in banking business
• Active user groups regular meetings and product releases
• Strong customer support organisation

More information
Dagfinn Loen, Head of Sales & Marketing, tel. +47 23319209 Jane Strøm-Pedersen, Sales Director, tel. +47 23319266.