Tieto develops Finland’s first real-time mobile payment platform for Automatia

Automatia announced today the launch of Finland’s first real-time multi-banking platform for mobile payments, named Siirto. Tieto has designed and implemented the service. Siirto is an open payment platform which follows the new regulations set by EU’s Payment Service Directive (PSD2), paving the way for new innovations and payment solutions within the financial ecosystem.

Today’s announcement makes Siirto first-ever real-time payment platform with open payment interfaces as described for EU’s PSD2. The interface allows any licensed payment service provider within the financial ecosystem to offer a multi-bank payment service for customers via one application. With this new platform already adhering to PSD2 regulations that will be adopted in 2018, Finland improves its already eminent status as an incubator for future payment innovations. With the real-time payment service banks and other payment services providers can bring new services to the Finnish market - enabling consumers’ real-time money transfers  from mobile-to-mobile between different banks. New real-time mobile payment platform will be able to replace cash in the near future and will provide an alternative to cards payments in online and physical stores.

“Modern consumers are demanding real-time services in all aspects of their everyday life. That is why we are very excited and proud to launch Siirto, a new real-time payment platform. With the help of Tieto, we are creating Finnish payment service history, and enabling consumers to transfer money between the various banks in seconds. This will dramatically change consumers’ payment behaviour,” says Marko Vilo, the Managing Director of Automatia.

Tieto has designed and built Siirto in collaboration with Automatia and its partner banks. Tieto has also been providing its expertise in creating the common rules and guidelines for the mobile payment ecosystem.

“The Siirto payment platform is a major step forward in digital banking and real-time payments in Finland. We have created an ecosystem where Fintech companies, banks and other payment providers, can innovate and offer new payment options for their customers, says Sami Uski, Head of Banking & Digital Channels business development in Tieto.

Siirto will only require end-users to have a mobile phone number for sending or receiving money - all transfers will occur in real-time on the user’s bank account. The new platform will work across all the payment service providers that are associated with Automatia.

Similar multi-banking and real-time services, like Swish in Sweden, have been greatly successful among consumers. The first Finnish banks are expected to launch their own mobile payment services, based on Automatia’s Siirto platform, in March 2017.

For further information, please contact:
Sami Uski, Head of Banking & Digital Channels business development, Tieto, +35840 5151230, sami.uski@tieto.com
Jyri Marviala, Account Director Automatia, +35850 566 4402, jyri.marviala@automatia.fi

Tieto aims to capture the significant opportunities of the data-driven world and turn them into lifelong value for people, business and society. We aim to be customers’ first choice for business renewal by combining our software and services capabilities with a strong drive for co-innovation and ecosystems. www.tieto.com

Automatia operates and develops the nationwide Finnish pooled and shared ATM and deposit ATM networks. Automatia is owned by three banks; OP Bank Group, Nordea Bank and Danske Bank.


Published on: 
16 November 2016


Sami Uski