The leading bank in the home markets of Sweden, Estonia, Latvia and Lithuania joins the SIA ultra-fast fiber optic network infrastructure for all European payments. Over 30 million instant payments already executed.
Stockholm, Milan and Oslo, 13 February 2020 – Swedbank, the major bank in the home markets of Sweden, Estonia, Latvia and Lithuania, has selected SIA, the leading European hi-tech company in the payment services and infrastructures sector, to enable instant payments through RT1, EBA Clearing’s pan-European system with the real-time payments platform of TietoEVRY, a leading digital services and software company.
Swedbank’s customers have already executed more than 30 million instant payments thanks to SIAnet, the ultra-fast fiber optic network infrastructure leveraging on low-latency, secure messaging technology and stretching over 186,000 kilometers.
SIAnet is specially designed to meet the specific requirements of instant payments in terms of security, reliability and performance, also by virtue of the “always on” Active-Active architecture by SIA that ensures very high resilience and business continuity, consistent with the pressing demands coming from the market in terms of higher service levels.
TietoEVRY’s Payment Hub enables efficient and secure integration between Swedbank’s internal environment and the innovative network services provided by SIA. Based on open architecture, the solution facilitates access to other systems without the need for code changes.
Furthermore, Swedbank’s customers will benefit from the 10-year concession granted by the European Central Bank to SIA and Colt as Network Service Providers for the Eurosystem Single Market Infrastructure Gateway (ESMIG), which is scheduled to go live for November 2021.
In fact, Swedbank, SIA and TietoEVRY are already working to enable all the key organizations in the European financial community to access the platform for the settlement of large-value payments TARGET2, the instant payments settlement service TIPS, the securities settlement platform TARGET2-Securities (T2S), the Eurosystem Collateral Management System (ECMS) and possibly other new services and applications such as P27, the new Nordic Payments Platform.
Swedbank is a modern bank with roots firmly anchored in Swedish savings bank history. We are an inclusive bank with 7.3 million private customers and 618,000 corporate and organisational customers.
This makes us the bank in Sweden with the most customers and also with a leading position in Estonia, Latvia and Lithuania.
As a major bank, we are an important part of the financial system and play an important role in the local communities in which we are active. We are committed to a sound and sustainable financial development not only for our customers but also for society in general. www.swedbank.com
SIA is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and the Public Sector, in the areas of payments, cards, network services and capital markets. SIA Group provides its services in 50 countries, and also operates through its subsidiaries in Austria, Croatia, Czech Republic, Germany, Greece, Hungary, Romania, Serbia, Slovakia and South Africa. The company also has branches in Belgium and the Netherlands, and representation offices in the UK and Poland.
In 2018, SIA managed 14 billion institutional services transactions, 7.2 billion card transactions, 3 billion payments, 51.7 billion financial transactions and carried 1,204 terabytes of data on the network.
The Group, which currently has over 3,400 employees, closed 2018 with revenues of €614.8 million.
For more information: www.sia.eu/en
TietoEVRY creates digital advantage for businesses and society. We are a leading digital services and software company with local presence and global capabilities. Our Nordic values and heritage steer our success.
Headquartered in Finland, TietoEVRY employs around 24,000 experts globally. The company serves thousands of enterprise and public sector customers in more than 90 countries. TietoEVRY’s annual turnover is approximately EUR 3 billion and its shares are listed on the NASDAQ in Helsinki and Stockholm as well as on the Oslo Børs. www.tietoevry.com
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