Tieto Banktech is implementing Verification of Payee functionality for one of the leading specialist banks in Europe, NOBA Bank Group, helping to strengthen its already advanced and robust fraud and payments framework for customers across its brands, Bank Norwegian and Nordax Bank. Finland is planned as the first rollout market, with the infrastructure designed to support rollout across all markets where NOBA operates.
The implementation comes as payment fraud remains a growing concern across Europe. According to joint 2025 report by the European Banking Authority (EBA) and the European Central Bank (ECB), the total value of payment fraud in Europe increased from €3.5 billion in 2023 to €4.2 billion in 2024, with new fraud types continuing to emerge.
The implementation is planned to include both European Payments Council (EPC) Verification of Payee and Nordic Verification of Payee (NVOP), enabling NOBA Group to address both Euro payments and payments in the Nordics. The solution will be delivered as a SaaS service on AWS public cloud, ensuring a scalable rollout across European markets.
“For us, it has always been about delivering the best possible experience for our customers. That means never having to choose between security, convenience, and scalability. We're already in a strong place, and with VoP we can build on that. It lets us retain and enhance the payment experience our customers expect, while adding an additional layer of protection, all in a consistent and tailored way across our markets", says Andreas S. Pedersen, Head of Tech, Projects and Product Development, at Bank Norwegian.
“We are pleased to partner with NOBA Group and provide a state-of-the art Tieto Payment Platform, enabling them to continuously strengthen their defences against evolving fraud risks while keeping the payment experience seamless for their customers. Utilizing the full potential of our modern cloud-based Verification of Payee solution", says Sathish Padmanathan, Head of Global Payments, Tieto Banktech.
For NOBA Group, which operates across several European markets, the implementation supports a more consistent payment experience across brands and geographies. Rather than addressing VoP country by country, the platform is intended to give NOBA a configurable and scalable foundation that can be tailored across brands and markets.
For more information, please contact:
Tieto Newsdesk, news@tieto.com, tel. +358 40 5704072
