Tieto secures PASHA Bank with fraud management solution

Tieto has successfully implemented its Card Suite Fraud Management solution in PASHA Bank, Azerbaijan. With this new solution, PASHA Bank aims to further strengthen security and stability for its customers by preventing and detecting fraud.

PASHA Bank was founded in 2007 and is focusing mainly on corporate and private banking. The bank has successfully been running on Tieto Card Suite platform since year 2009. The need for a dedicated and more specialized security tool follows after the past years’ growth and acquisition of new customers.

“We understand that the segment of customers PASHA Bank aims at requires individual approach and higher level of funds protection. With the new Fraud Management solution from Tieto we are now able to provide even more security to our cardholders and minimize card fraud”, says Leyla Mammadova, Head of Direct Banking, PASHA Bank.

Tieto`s Card Suite Fraud Management System is an advanced rule-based fraud monitoring tool. The solution consists of two main parts - payment card fraud prevention and fraud detection that ensure fraudulent transaction detection and analysis, as well as real-time fraudulent case prevention, eliminating fraud before it even happens. Card Suite Fraud Management is a flexible system that can be integrated with almost any payment card software. This way a bank or processing centre can safeguard itself and its customers from unwanted direct and indirect losses in long-term.

“We have watched and helped PASHA Bank grow and become a successful business as it is now. Customer trust and loyalty is crucial, so to them security and stability is key,” says Maris Ozolins, Director of Cards, Tieto Financial Services. “Card Suite Fraud Management will help to save time, resources, and most importantly - funds.”


TIETO CORPORATION

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Tieto is the largest Nordic IT services company providing full life-cycle services for both the private and public sectors and product development services in the field of communications and embedded technologies. The company has global presence through its product development business and global delivery centres. Tieto is committed to developing enterprises and society through IT by realizing new opportunities in customers’ business transformation. At Tieto, we believe in professional development and results.

Founded 1968, headquartered in Helsinki, Finland and with approximately 15 000 experts, the company operates in over 20 countries with net sales of approximately EUR 1.8 billion. Tieto’s shares are listed on NASDAQ OMX in Helsinki and Stockholm. Please visit www.tieto.com for more information.

PASHA Bank is a leading corporate bank in Azerbaijan. Established in 2007, it provides a range of corporate banking services including: loans, securities, asset management, and treasury services. PASHA Bank employs circa 221 people across its head office and four branches and was declared “The Best Investment Bank of Azerbaijan” by the Europe Banking Awards 2011 and 2012.

PASHA Bank is a part of PASHA Group, a major investment holding group in Azerbaijan, which also includes significant assets in insurance, property development, production of construction materials, tourism and other businesses. Kapital Bank, one of the largest retail banks in Azerbaijan, is also owned by PASHA Group. Please visit www.pashabank.az/lang,en for more information