ESPOO, Finland, Jan. 20, 2003 (PRIMEZONE) -- TietoEnator (Other OTC:TTNTF) (Stockholm:TIEN) has signed an agreement with Jubanka a.d. Belgrade (Yugoslavia) on delivery of a software solution for payment card business. The agreement includes Visa and Mastercard issuing, point-of-sales terminal and ATM network management, and international clearing and settlement operations.
The solution -- Transmaster -- is a software tool developed by TietoEnator Financial Solutions SIA for the complete cycle of payment card processing starting from card issuing to electronic payment operations via internet and mobile communications.
This deal strengthens TietoEnator's position as the leading payment card software provider for Yugoslavian banking sector. IbisSys, the local partner company of TietoEnator, contributed to this deal.
"Jubanka is in the process of obtaining full control over its payment card processing operations. TietoEnator's software will allow the bank to strengthen its independence, save on external transaction processing, and profit by selling payment card processing services to other banks and payment card processors in the nearest future," said Dragoljub Lukic, Executive Manager of Payment Cards and E-Banking Department of Jubanka.
"Yugoslavian banks are very exacting to software providers due to the well established infrastructure and history for payment card operations in the country. Therefore the beginning of the cooperation between TietoEnator and Jubanka indicates that TietoEnator has chosen the right partnership strategy for the banking and finance market of Yugoslavia," added Maris Ozolins, Managing Director of TietoEnator Financial Solutions SIA.
Additional information:
Maris Ozolins, Managing Director TietoEnator Financial Solutions SIA tel. +371 7286660 Dragoljub Lukic, Executive Manager Payment Cards and E-Banking Department of Jubanka tel. +381 11 3220149
With 13,000 employees and annual net sales of EUR 1.1 billion, TietoEnator is a leading supplier of high value-added IT services in Europe. TietoEnator specialises in consulting, building and hosting its customers' business operations in the digital economy. The Group's services are based on a combination of deep industry-specific expertise and latest information technology. www.tietoenator.com
Jubanka was established in 1956 as a main branch of the Yugoslav Foreign Trade Bank with the primary task to provide comprehensive banking services to Yugoslav companies in their foreign trade business. As of 1995 the Bank is operating under its present name Jubanka a.d. Belgrade, as a modern banking institution organised as a joint-stock bank. Jubanka is providing all usual banking services and other banking and financial operations of interest to its domestic shareholders, depositors and clients. The Bank has an extensive branch office network throughout the territory of the Republic of Serbia. www.jubanka.com
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