Evry in five-year, $18.7m card deal with Aktia Bank
Norway-based banking tech vendor Evry will provide Finland’s Aktia Bank with the “entire value chain for card payments”, including virtual debit and credit cards for the bank’s digital proposition, Aktia Wallet.
The agreement is valued at NOK 150 million ($18.7 million) and will last for five years, writes David Penn at Finovate (Banking Technology‘s sister company).
Christer Jonsson, SVP of card for Evry Financial Services, says the deal is an expansion of the company’s current relationship with the bank.
The agreement with Aktia calls for Evry to deliver everything from physical credit and debit cards to services such as card administration, authorisation processing and transaction monitoring. Virtual cards are also an area of focus for Aktia, which will be among the first customers of Evry’s new technology for digitising cards on mobile devices.
“We are working hard to offer new solutions that will make it easier for our customers to manage their finances on a day-to-day basis,” says Anton Tulikoura, director of loans and cards, Aktia, “and this collaboration with Evry will help accelerate developments in this area.”
Evry says it delivers credit and debit cards to more than 100 card issuers in 12 countries. Founded in 1962 and headquartered in Oslo, Norway, the company processes up to 250 card transactions per second, issues 25 million cards annually, and monitors more than one billion card transactions every year as part of its fraud mitigation efforts.
Last month, Evry announced a five-year, IT consulting partnership with Statoil, and extended its IT services agreement with the Confederation of Swedish Enterprise. In August this year, Danish IT services firm Bankdata chose Evry’s cash management solutions in a NOK 30 million ($3.75 million), three-year deal.
Earlier this year, Evry reported that it would continue IT infrastructure management for Sweden’s central bank, Sveriges Riksbank, for another two years.