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Unveiling Tietoevry Payments as a Service Plus (PaaS+)

Empowering European Banks to Embrace the Pivotal Cloud-Native Shift, Unveiling New Dimensions for Business and Operational Models


Oslo – WEBWIRE

Tietoevry Banking today announced the launch of a new innovative Payments as a Service Plus (PaaS+), a cloud payments platform, enriched with managed services for payments operations. This enables financial institutions to meet the increasingly demanding needs of customers within the payments business, ensuring compliancy and real-time access to markets.​

“We have recognized a crucial requirement for banks to not only adopt a Software as a Service (SaaS) model for the application layer but also strategically outsource specific tasks within their operations. By doing so, they can enhance operational scale, reduce the overall cost of transactions, and strengthen their competitiveness in the payments market,” says Jarkko Turunen, Head of Payment Products & Services at Tietoevry Banking.

Tietoevry Banking’s PaaS+ solution is designed to support banks in adapting their business models and capitalizing on new growth opportunities rapidly. By leveraging PaaS+, banks can eliminate the challenges associated with managing their payments systems comprehensively. This includes responsibilities such as on-time upgrades, compliance with regulatory requirements, real-time monitoring, KYC and more. A seamless managed service approach ensures that these tasks are taken care of, freeing banks resources and budget to focus on their business while fostering efficient and hassle-free payment processing.

Key Services Overview

End-to-End Payment Hub: The PaaS+ solution acts as a centralized hub for processing and managing account-to-account payments, consolidating all account payment rails. This allows banks to simplify their payment operations and optimize efficiency.

Messaging Excellence: Tietoevry Banking facilitate smooth communication by efficiently handling incoming and outgoing payments, ensuring secure and compliant messaging for seamless transaction flow.

Connectivity Service Bureau: Tietoevry Banking’s PaaS+ solution offers connectivity to EURO-zone and Nordic payments infrastructures, as well as SWIFT. Banks can seamlessly access multiple payment networks through our platform, eliminating the need for individual integrations.

Open Banking and eCommerce: The PaaS+ solution supports utility and merchant payments, leveraging Open Banking, eCommerce Checkout, and payment platforms. This enables banks to expand their services and cater to evolving customer needs.

Bill Payments: Our white-labeled service allows banks to offer bill payment services for their corporate and SME clients, turbo-charging collections and increasing cash visibility. This will further be boosted by request-to-pay capabilities that move e-invoicing to real-time.

By leveraging the PaaS+ solution, banks can enhance their operational efficiency, reduce costs, and unlock new revenue streams. With its modular and adaptable architecture, our PaaS+ platform can be tailored to meet the specific needs of each bank, regardless of their current payment infrastructure.

Additionally, commenting on the launch, J. Turunen stated, “We are thrilled to introduce our Payments as a Service Plus solution, which represents a significant milestone in our journey to empower businesses in the digital payments space. With our deep expertise and comprehensive payment capabilities, we aim to help organizations stay at the forefront of the industry, drive innovation, and deliver exceptional payment experiences to their customers.”

Tietoevry Banking’s Payments as a Service Plus solution has already garnered significant interest from businesses across the Europe. By leveraging the power of this advanced platform, financial institutions can enhance operational efficiency, reduce time-to-market for new payment services, and focus on their core competencies while leaving the complexities of payment processing to Tietoevry.

Learn more about our Payments as a Service Plus 

About Tietoevry

Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Nordic heritage and global capabilities. Based on our core values of openness, trust and diversity, we work with our customers to develop digital futures where businesses, societies, and humanity thrive.

Our 24,000 experts globally specialize in cloud, data, and software, serving thousands of enterprise and public-sector customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com.


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