Luminor has achieved a major milestone in its cloud transformation through moving its payment services to Tieto Banktech’s Payments as a Service platform, an AWS secure cloud-based engine.
This marks an important step towards delivery of a fully capable, modern suite of cloud-native services as Luminor pursues its strategy to raise its customer experience and increase operational efficiency.
The move consolidates Luminor’s SEPA Credit Transfers, SEPA Instant Payments, and cross-border payments across Estonia, Latvia, and Lithuania to a fully modular, cloud-native payments ecosystem, with further payment services to follow in the coming period.
Shifting its operations to cloud-native services is part of Luminor’s strategic focus to grow its customer franchise, improve the efficiency of IT systems and digitalise its operating model.
Enkelejd Zotaj, Luminor Chief Information Officer, said:
"This is a significant milestone in our journey to deliver cloud-native services and lays a strong foundation for scalable, cost-effective growth. It underlines our commitment to enhancing customer experience, embedding compliance by design, and advancing cybersecurity.”
Sathish Padmanathan, Head of Payments and Cash Management at Tieto Banktech, added:
“We are really proud to partner with Luminor to deliver a modern Payments-as-a-Service platform on AWS that supports Luminor’s strategy in a rapidly evolving financial landscape. By simplifying the onboarding of new payment types and enhancing resilience and compliance, Luminor can accelerate time-to-market for future innovation while ensuring reliable payment services for both private and corporate customers.”
For more information, please contact:
Tieto Newsdesk, news@tieto.com, tel. +358 40 570 4072
About Luminor: Luminor is the leading independent bank in the Baltics and the third-largest provider of financial services in our region. We serve the financial needs of individuals, families, and companies. Luminor is here to improve the financial health of our customers and our home countries, and to support their growth. www.luminor.ee
About Tieto Banktech: Tieto Banktech is the market-leading provider of financial SaaS solutions for the Nordics and beyond. With over 3,000 dedicated experts and customers in 30+ countries, we deliver solutions for payment and card value chains, financial fraud prevention, lending, and wealth management, as well as a banking-as-a-platform. By combining decades of experience with our modular, scalable, and secure solutions, we empower financial institutions to unlock significant value, and rapidly adapt to market changes, meet regulatory demands, and deliver exceptional customer experiences. Tieto Banktech is a specialized business unit of Tieto Group listed at Helsinki and Stockholm stock exchanges. www.tieto.com