Banking Industry Ecosystem 2020
The 2020 ISG Provider Lens™ Banking Industry Ecosystem Report for the Nordics sees significant interest among Nordic banks in new technologies to improve the customer experience. TietoEVRY is the only provider being positioned as a leader in all four quadrants.Download the report
TietoEVRY positioned as a Nordic Leader
The report evaluates the capabilities of 21 providers across four quadrants.
“TietoEVRY’s extensive IT service experience combined with deep financial expertise and strong local capabilities have helped establish their leadership in the Nordic market driving mindshare and growth from customers across the banking ecosystem” says Gowtham Kumar, Lead Analyst, UK and Nordic Region at ISG.
ISG acknowledged TietoEVRY as a leader in the Nordics in the following quadrants:
- Leader in Core Banking Implementation Services: Retail
- Leader in Core Banking Implementation Services: Corporate
- Leader in Payment Ecosystem Services
- Leader in KYC & AML Services
Core Banking Implementation Services – Corporate
The core banking implementation services – corporate quadrant focuses on implementation and system integration services for core banking platforms. Centrally positioned for all operational activities, core banking platforms are vital back-end systems for banking transactions.
Core Banking Implementation Services – Retail
Centrally positioned for all operational activities, core banking platforms are vital back-end systems for banking transactions. ISG has observed that projects to modernize core banking systems have been initiated to improve operational agility as well as responsiveness to the ever-demanding consumer.
Payments Ecosystem Services
The payments ecosystem services quadrant measures the ability of systems integrators and managed services providers to help customers create, implement and support payment-based business services in the global payment's ecosystem. This ecosystem comprises payment processors (acquirer and issuer), payment networks, merchants, banks (acquiring and issuing), and other intermediaries.
KYC & AML
KYC & AML Services
The increasingly stringent regulatory environment due to fraudulent activities, security vulnerabilities and privacy concerns are compelling banks to outsource compliance and risk mitigation activities. Service providers must offer mature solutions that combine in-depth compliance knowledge, and security expertise with emerging technologies such as artificial intelligence (AI), robotic process automation (RPA) and analytics.
Highlights from the report
Leading software and services provider for Nordic banks
With the recent merge between Tieto and EVRY, TietoEVRY has a strong set of software and services capabilities combined with Nordic-based talents to help corporate banking customers transform and manage their core banking operations. Some of the strengths recognized are:
- TietoEVRY has a mature framework to deliver the operational and commercial benefits of banking-as-a-service to Nordics clients.
- TietoEVRY has a PSD2-compliant open banking platform that combines API aggregation with a developer portal.
- TietoEVRY has a proven banking cloud deployment model created specifically to meet the requirements set forward by the EU and Nordics countries.
Trusted market leader within Payment ecosystem services
TietoEVRY is a trusted market leader within payment ecosystem services, showcasing extensive experience, referrals, capabilities and solution offerings in the Nordics.
One example mentioned, is the case of LF Bank’s new payment cards that are the first environment-friendly cards in the world. The case is a testament to TietoEVRY’s personalization capabilities, and the result of the company’s vast networks and suppliers focused on green services and solutions.
KYC and AML localized for Nordic needs
TietoEVRY provides KYC/AML implementation services and is primarily focused on Nordics-based customers, delivering a multi-tenant ML platform that monitors real-time transactions across payment channels.
TietoEvry has a strong Nordics-centered FinTech network that includes Onegini for Onboarding, digital signatory, KYC and identity management.
About ISG Provider Lens™ Research
The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe and Latin America, as well as in the U.S., Germany, Switzerland, the U.K., France, the Nordics, Brazil and Australia/New Zealand, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.
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ISG Provider Lens™ reports 2020
Digital Workplace of the Future
Strong remote work culture to overcome Covid-19 challenges in the Nordics
According to the latest ISG Provider Lens™ Digital Workplace of the Future report, the pandemic increased the demand for scaling up virtual collaboration capacity and supplying employees with devices and secure home connections. Last spring, organizations came under sudden pressure to improve the remote end-user experience, as employees moved to the home office.
The pandemic has brought less change to working life in the Nordics, where remote working has traditionally been more common than other parts of the world.
“In today’s digital disruption, which is being accelerated by the COVID-19 crisis, we recognize the need for Nordic organizations to have a digital workplace prepared for change. It must be agile, flexible, integrated and connected. It needs to support the business as it transforms, no matter is it from a volume, budget or use case perspective,” says Viktoria Granqvist, Head of End User Services at TietoEVRY.
In the report, TietoEVRY has been acknowledged in three quadrants: a rising star in Digital Workplace Consulting, and a leader in both Managed Workplace Services and Managed Mobility Services.
Next-Gen Private/Hybrid Cloud
TietoEVRY secures a podium place in ISG cloud study
TietoEVRY has been positioned as a Nordic Leader in the Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions in ISG Provider Lens™ study 2020.
According to a new report by the Information Services Group (ISG), Nordic enterprises are looking to cloud and data center service providers to help them manage the move to hybrid IT and multi-cloud environments.
"This service framework will be leveraged by our customers to accelerate their cloud journey at their own pace, so they can achieve unprecedented levels of secured business continuity and speed of innovation. We feel responsible and are committed to leading the market through our relentless mission to accelerate the cloud,” says Alberto Valero, Head of Private Cloud and Edge Services, TietoEVRY.
The 2020 ISG Provider Lens™ Next-Gen Private/Hybrid Cloud – Data Center Services & Solutions Report for the Nordics evaluates the capabilities of 66 providers across seven quadrants.