TSYS (NYSE: TSS) announced today that SpareBank 1, a leading Norwegian banking group, has signed an agreement to license its PRIME 4 card management solution. SpareBank 1 will deploy the solution to support its issuance and issuer processing of a range of MasterCard and Visa retail credit, charge, prepaid and contactless cards in order to meet the evolving needs of Norwegian consumers.
Owned by an alliance of 16 cooperative banks, SpareBank 1 Gruppen has a major presence across Norway with a total of 352 branches, making it one of the largest providers of financial products and services in the Norwegian market. The search for a proven card management solution and trusted partner was initiated in 2011, following the group´s decision to create its own card centre infrastructure.
"Providing competitive banking products and services to consumers is our ultimate goal, and working with TSYS will help us realise further expansion in the area of cards and payments. TSYS met all our partner criteria and managed to differentiate themselves on many levels with their proven PRIME licensing solution, global footprint and experienced Nordic track record. They backed this up with a partnership model focused on security, reliability, growth and shared customer values," said Øivind Mellbye, project manager, SpareBank 1 Gruppen.
With a Nordic presence dating back to 1997, TSYS licensing solutions have been designed to accommodate local market requirements. PRIME 4 offers users a Web-based, scalable solution built in accordance with Service Orientated Architecture (SOA) for improved interoperability and increased operational efficiency. It provides single-platform support for multiple products and schemes, and is highly parameterized enabling flexibility and user-friendliness, allowing for faster speed to market and business agility.
"PRIME 4 was designed to meet the exacting standards of TSYS data centers while drawing from more than 20 years of licensing experience and innovation. It will provide SpareBank 1 with a future-proof platform for expansion to support its business development strategy and future growth. This agreement also serves to reinforce our commitment to the Norwegian market and Nordic region as a whole," said Gaylon Jowers, president of TSYS International.
PRIME has an extensive issuer and acquirer footprint throughout Europe, CIS, the Middle East, Africa and Asia. Its footprint extends across more than 130 financial institutions in more than 70 countries.
About TSYS
At TSYS, (NYSE: TSS), we believe payments should revolve around people "” not the other way around. We call this belief "People-Centered Payments." By putting people at the center of every decision we make, with unmatched customer service and industry insight, TSYS is able to support financial institutions, businesses and governments in more than 80 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare and more, we make it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.
TSYS´ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks, and has been named one of the 2012 World´s Most Ethical Companies by Ethisphere magazine. For more information, please visit us at www.tsys.com.
About SpareBank 1 Gruppen
SpareBank 1 Gruppen is one of the largest providers of financial products and services in the Norwegian market. The banks in the SpareBank 1 Alliance distribute SpareBank 1 Gruppen´s products and collaborate in key areas such as brands, work processes, expertise development, IT operations and system development.
The SpareBank 1 Alliance´s main goal is to ensure the individual bank´s independence and regional foundation through strong competitiveness, profitability and financial soundness. The SpareBank 1 Alliance comprises approximately 350 offices and branches all over Norway. SpareBank 1 Gruppen´s products are distributed through almost 380 offices that cover every county in Norway. In total, the Alliance has approximately 6,500 employees. 1,200 of these are employed by SpareBank 1 Gruppen AS and its subsidiaries.
The SpareBank 1 Alliance in Norway´s total assets amounted to approx NOK 679 billion (pr 1.1.2011). SpareBank 1 brand awareness has increased over recent years and is now in the top two most familiar financial brands in Norway.