Tieto Payment Suite

Technology has dramatically reduced the cost of accessing payment platforms. Enabling new entrants to build compelling value propositions at the customer touch-points on top of existing payments rails. This commoditization of payment

platforms will continue and even accelerate in Europe the coming years as a result of the implementation of PSD2.

For a payment bank this poses significant challenges but also

creates a huge opportunity. Accenture estimated in 2016 that UK banks can lose as much as 43% of their revenues in payments following the implementation of PSD2. At the same time digital technology and the same regulation offers individual banks the opportunity to

re-invent and strengthen their market position by improving their offerings to their clients.

More and more banks turn to Tieto to meet this new reality. And with good reason. At Tieto we believe in solutions that are both modular and open by design. Modular and flexible enough to meet the commercial and operational requirements of a very demanding payment market, but also open and API-driven solutions that can facilitate the increased interactions with internal and external partners adding value to your payment offering.

The Tieto Payment Suite is a flexible and proven solution, fit for large-scale organisations as well as smaller banks. The financial institutions using Tieto Payment Suite have recognized the benefits of a holistic, flexible and reliable payment solution covering their customer needs today and tomorrow.

The payment industry is undergoing a transformative change - from the way we access and make payments to the backend processing, moving from a batch-oriented to an instant payment world. The same driving forces that has made it possible for companies like AirBnB and Uber to disrupt entire industries are clearly coming into effect also in the payment industry.

“At Tieto we believe in solutions that are both modular and open by design.”

Challenge

The Tieto Payment Suite is a highly competitive, modern and proven solution and designed with a ”fit for purpose” in mind. Its modular structure is very well suited for a phased implementation and a gradual migration from a siloed payment processing environment towards a single consolidated platform to fulfill your payment strategy. Tieto Payment Suite is not a tool-kit which have to be assembled by the bank, but rather a parameterized and “full-function” solution where workflows, payment schemes

and processing parameters are defined by the bank operators. Its flexibility and comprehensive ‘multi’ features makes Tieto Payment Suite also suited for the insourcing of payment processing from other financial institutions. Tieto Payment Suite is easy to implement and takes care of the complete payment life-cycle from origination until settlement. Tieto Payment Suite is provided with plug-and-play interfaces towards various payment processing service providers and clearing houses.

The Tieto Payment Suite is characterized by a high level of flexibility and configurability. The solution is provided with a large number of parameters so that the specific commercial and operational requirements of your organization can be met in an optimal way. These parameters can be set with ease by your business staff via the user-friendly and intuitive user interface

of the solution. This also makes it possible to implement changes in your payment processing environment in a short time frame and without the necessity of coding. All parameters contain a start and end date which makes it possible to have the changes in the configuration registered upfront and have the system automatically activate these changes on the specified start-date.

Fit for purpose

Flexibility is key

Data and information Warehouse

Common functions

Paymentinitiation

CSMs*

Paymentengine

Other bank domains*CSM = Clearingand Settlement

MechanismsChannelsUsers

Consumer Mobile

Online

Branch

Corporate

Bank staff

CSM*Gateway

For the integration between the interface points (API) of the Tieto Payment Suite and the other systems, you can utilise integration tools according to your own preference. This approach does not only allow

tieto.com

Profit from our extensive expertise and experience in payments and integration of payment solutions in complex international bank environments

Work together with a well-established and leading payment solution provider

Reduce risks by choosing a trusted partner with a long-standing track record within payments and a Nordic best-practice heritage

Why Tieto?

Benefit from our leading and proven payment solutions to reduce operational costs and improve your services.

you to have a maximum leverage of your existing integration infrastructure, but also gives you the freedom to have the integration activities executed by a party of your choice, whether this is Tieto, your own IT department or a 3rd party solution integrator. The ‘inbound

Open services oriented architecture

Standard APIs

Payment Workflows

The Tieto Payment Suite is based on an open, service-oriented architecture in which re-usable components are accessible as self-contained services according to SOA-based design principles.

A rich set of standardized APIs makes Tieto Payment Suite well suited for a seamless integration to external systems without the necessity of code changes in the core product. As PSD2 comes into effect this makes Tieto Payment Suite an ideal choice to meet the demands of an open and ecosystem-driven payment market.

Tieto Payment Suite can be configured to support all relevant payment types such as Cross Border payments, SEPA Credit Transfer/Direct Debit, Realtime payments schemes.

interface points’ of the Tieto Payment Suite enable other bank systems to access functions and data (services) that is provided by the Tieto Payment Suite. This allows you as a bank to offer your customers new and improved payment services with better user experience via your existing channels.