In this quadrant report, ISG highlights the current market positioning of core modernization and integration service providers in the Nordics, based on the depth of their service offering and market presence. ISG also considers their ability to help banks optimize customer experience while reducing operating costs, enhancing service quality and managing risk and regulatory compliance more effectively.

Service providers in this quadrant support banks in enabling effective corporate governance, mitigating enterprise level risk and meeting regulatory compliance requirements. Although some of the Governance, Risk and Compliance (GRC) components are available as modules in the core banking platform, the quadrant explicitly analyzes portfolio offered by service providers on GRC system integration and managed services to account for risk mitigation arising from IT systems, data, legacy applications, new product/platform integration, and overall business risk validation.

In this quadrant, ISG analyzes service providers that can offer relevant technology to allow business process solutions to enable and enhance the digitalization roadmap of financial institutions.

This quadrant measures the ability of Managed Service Providers (MSPs) to help organizations create, implement and support payment-based business services in the global payment ecosystem. Through this ecosystem of payment processors (acquirer and issuer), payment networks, merchants, banks (acquiring and issuing) and other intermediaries, MSPs support their clients in deploying and operating proprietary platforms and technology services (application and infrastructure).

Core and niche platform offerings to gain market leadership

• Tietoevry core banking platform provides end-to-end, full-scale retail and commercial banking services. It supports three distinct lifecycles such as current account/savings account, customer event and general ledger/reporting.
• The services are fashioned as a platform-agnostic, multi-tenant and multi-bank architecture.
• It also has one of the leading wealth platforms in the Nordics, which offers savings, pension and insurance services as well as a complete credit platform for origination and administration of unsecured credits, secured loans, housing loans, corporate loans and collaterals.

Tietoevry offers Banking as a Service to optimize costs for clients including three delivery models

• Banking-as-a-Service delivery model with firstly business volume pricing catering to agreed functional, non-functional and regulatory requirements;
• Software-as-a-service model, which includes technical service provisioning for functionality, application infra operations and required cloud infrastructure;
• Software delivery model to provide software capabilities and software maintenance.

Tietoevry’s bundled GRC capabilities built into its core banking platform, along with its expertise in financial crime prevention, help the company gain market leadership in the Nordics

• The company’s Governance, Risk & Compliance (GRC) platform provides functionalities such as improvement opportunity and risk management, project risk management, privacy risk assessments, security incident management, audit management, and business continuity management.
• Tietoevry's financial crime prevention services include fraud prevention offered as a managed service; anti-money laundering, which includes KYC, risk rating and transaction monitoring; and creating digital identity portfolios.

Tietoevry has a leadership position in the payment segment because of its vast array of payments solutions and long-standing relationships built on trust and transparency

• Tietoevry’s card and payment software comprises a unified platform, which integrates multiple channels such as e-commerce, mobile, ATM, POS, and IoT. It acquires, issues,  switches and clears solutions.
• The architecture has a modular system design and has regulatory compliance with all major payments systems, including PCI DSS and PSD2.
• It also offers cards as a service and open banking services.

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