The greatest asset in card systems transformation isn’t great tech – it’s people
As recent data shows 80% of banks are engaged in transforming their card systems, Triin Öun from Tieto Banktech discusses her personal experiences of card systems transformation.
Across Europe, banks are undergoing large-scale card systems transformations at unprecedented speed. But why do so few succeed?
Our latest Tieto Banktech study shows that eight in ten European banks are now engaged in such programs. Yet, according to McKinsey & Co, around 70% of all technology transformations still fail to reach its targets.
From our experience of transforming card systems for over 26 million cardholders across Europe, we’ve learned that success rarely hinges on technology alone. Great technology is essential, yes – but it’s not what makes transformation work. The real difference lies in how banks and their teams and partners work together.
Great technology is just the start
Many technology providers can demonstrate secure, compliant, and reliable technology — and rightly so. In today’s market, advanced solutions are a basic expectation, not a differentiator. They form the foundation on which transformation is built, but they don’t guarantee success.
As Mario Blazevic, our Managing Director noted when we launched this report, high-performing technology is just table stakes. What defines a successful transformation is not the code or the platform, but the collaboration behind it — how people align, communicate, and deliver change together.
Technology sets the stage. People and partnerships bring transformation to life.
When we build shared cultural values, agree on ways of working, and create transparent forums for collaboration, something powerful happens – trust grows. With trust comes increased clarity, faster decision-making, and shared accountability. Problems stop being “theirs” or “ours” – they become ours to solve together.
- Triin Öun, Tieto Banktech
Working as one team
Over the past decade working across legal, financial services, and technology programs, I’ve seen that the most successful transformations happen when a bank and its technology partner act as true partners, and not in traditional “customer”, and “supplier” roles. That mindset changes everything.
When we build shared cultural values, agree on ways of working, and create transparent forums for collaboration, something powerful happens – trust grows. With trust comes increased clarity, faster decision-making, and shared accountability. Problems stop being “theirs” or “ours” – they become ours to solve together.
In one critical transformation for a leading bank in the Nordics, this approach enabled us to reissue 300,000 cards within weeks of a portfolio takeover. It was a technical achievement; but perhaps more importantly it shows what can be achieved when two organisations operate seamlessly with shared purpose and urgency.
People internally doubted it was possible, saying it had never been done in such a short timeframe before. However, the way Tieto Banktech handled our collaboration was exceptional. The process was carried out without friction; thanks to the trust we placed in your decades of experience to guide us through this complex project.
– Head of Card Products and Application Management at a Nordic Tier 1 Bank, as quoted in our report.
Building partnerships that drive change
Technology and governance structures may frame a transformation, but its success depends on the strength of the partnership that lies behind them. Strong partnerships don’t emerge by chance but are built deliberately, through shared culture, transparency, and consistent dialogue from day one.
If we run into issues that aren’t covered by set processes, the culture aspect of our collaboration is there to catch and resolve them.
– Head of Card Issuing at a Nordic Tier 1 Bank, as quoted in our report.
For some of our customers, we are applying the Triple Fit approach – a structured model for aligning planning, execution, and resources between supplier and customer – to deepen partnership and drive transformation.
Five principles to keep in mind
Based on my experience, here are five principles which help create the foundations of a strong partnership and maintain it throughout the transformation journey:
- Build trust early and communicate clearly
In large, multi-market transformations, human complexity is often harder to manage than technical complexity. Building trust from the start through open communication, asking questions, regular dialogue, and clarity of roles creates the foundation for everything that follows. - Embed change management from day one
Strong structures sustain trust. Set up a clear governance structure and change management early on, before the design phase begins. This ensures alignment across teams and helps to avoid common pitfalls such as stalled decision-making and internal resistance. - Understand organisational maturity
Not every team or function is transformation ready. By assessing organisational maturity early, both the bank and its partner can adapt their approach, build mutual understanding, and bridge capability gaps – preventing friction later. - Tackle the hard conversations
Transformation brings uncertainty and tension. Addressing difficult topics openly – whether about scope, timing, or expectations — builds resilience and prevents small issues from becoming barriers to progress. - Shift from supplier to strategic partner
True transformation happens when both sides share accountability and vision. Acting as one team – with joint goals, shared roadmaps, and a unified culture – unlocks innovation and accelerates delivery.
When these elements are in place, transformation ceases to be a transaction. It becomes a shared journey – where bank and the partner push boundaries, develop new solutions, and deliver results faster and more effectively than either could alone.
Explore more insights and best practices from card transformation programs across Europe:
Download the full Cards transformation report here
Author
Senior marketing lead, Tietoevry Banking
