Danish BEC Financial Technologies has entered a strategic partnership with Finnish Tieto Banktech to deliver a modern cash management solution that will strengthen the value proposition for larger corporate customers of BEC banks. With this partnership, BEC takes a significant step in the expansion of its IT platform for banks in the corporate segment.
“Business banking is a strategic focus area where BEC is now making substantial investments, and cash management is a key capability for the largest businesses. This agreement will give BEC banks access to a best‑in‑class solution that will be fully integrated into our complete banking IT platform,” says Lars Malmberg, Deputy CEO of BEC Financial Technologies.
Photo: Mario Blazevic, Managing Director of Tieto Banktech (left) and Lars Malmberg, Deputy CEO of BEC Financial Technologies
The solution will provide large companies with real‑time visibility of their liquidity across accounts, legal entities and currencies. With cash pooling and flexible credit facilities across currencies, companies will be able to manage their liquidity more efficiently, thereby reducing manual transfers, waiting time, and inefficient use of liquidity.
The solution is based on proven functionality from Nordic banking practice and is now being implemented in a cloud‑based model designed for close integration into a banking platform such as BEC’s. Tieto Banktech has extensive experience in technology for business banking. With BEC as one of the first customers on the cloud model, cash management can be more tightly integrated with existing channels, processes and data, while companies gain a more user‑friendly self‑service experience.
“We are proud to enter this strategic partnership with BEC to deliver a future-ready real-time cash management platform that can be scaled and operated securely in a modern banking environment. By combining BEC’s deep expertise of Danish banking with Tieto Banktech’s extensive experience in technology for global banks, we aim to set a new benchmark for cash management capabilities in Denmark,” says Mario Blazevic, Managing Director of Tieto Banktech.
BEC and Tieto Banktech will implement the solution in close cooperation with Nykredit as a pilot customer, after which it will be made available to other BEC banks with larger corporate customers.
The implementation will take place in phases, with a focus on delivering business value continuously. The first step is to deliver core cash management functionality, including improved capabilities for managing liquidity across accounts, legal entities, and currencies. At the same time, the technical and business foundation will be established to enable further expansion of the solution and accelerate the development of future business banking capabilities.
The cash management solution will be the first wave in an expansion of BEC’s business banking offerings. Subsequent waves will add further functionality in line with the needs and priorities of BEC banks.
Part of BEC’s strategy as a fintech integrator
The partnership with Tieto Banktech is another step in BEC’s strategy as a fintech integrator, where BEC expands and replaces its in‑house developed banking platform with market‑leading third‑party technology integrated directly into banks’ daily workflows. This gives banks faster access to new functionality without compromising stable operations, high security, and full compliance.
Other examples include BEC’s partnerships with Salesforce on the advisor platform Scoutz 360, with Databricks on data intelligence, with London Stock Exchange Group (LSEG) on data and analytics tools for the investment area, with S&P Global on post‑trade solutions, and with SAS Institute on solutions to combat financial crime.
For more information, please contact:
Tieto Newsdesk, news@tieto.com, tel. +358 40 570 4072
About BEC Financial Technologies
One in three Danish companies is a customer of a BEC bank. BEC Financial Technologies develops and operates IT solutions that support stable operations, high security and full compliance in Danish banks. BEC delivers a comprehensive banking platform that enables banks to offer efficient advisory services, modern customer experiences, and fast access to market‑leading technology integrated into their daily workflows.
About Tieto Banktech
Tieto Banktech is a leading technology vendor specializing in banking solutions, including cash management and liquidity management. Tieto Banktech delivers cloud‑based solutions that can be closely integrated into banks’ existing platforms and operating models.
Tieto Banktech is part of Tieto, a leading technology company with annual revenue of approximately EUR 2 billion. Tieto’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tieto.com