Tietoevry Banking has announced an expansion of its card personalization services in Riga, Latvia, significantly enhancing its global FinTech capabilities.
This expansion includes the establishment of a new, state-of-the-art personalization site that effectively doubles Tietoevry Banking’s capacity to personalize payment cards for banks and FinTech companies worldwide. This development is a key component of Tietoevry Banking’s strategic growth plans, reinforcing its position as a crucial modernization partner in the global financial sector.
The new facility in Riga adheres to the highest security and quality standards, holding certifications from major financial services companies Visa and Mastercard. Spanning 2,000 square meters, the facility promises to expedite the delivery process, enabling overnight card deliveries to various European countries.
Mario Blazevic, Head of Cards at Tietoevry Banking, emphasized the strategic importance of the expansion: “Our expansion aligns with current trends showing that cards remain a go-to choice for payments. Even with the rise of digital wallets, card use in Europe grew significantly last year, accounting for more than half of all non-cash payments. Payment cards remain popular due to their security, ease of use, and features like contactless payments. Our decision to double the card capacity in Riga directly addresses this increasing demand and aligns with our growth ambitions.”
The Riga facility is not only about expansion but also innovation, with a focus on sustainable material use and compliance with regulatory requirements like PSD2, which governs payment services within the EU. The facility also features a new API service for postal deliveries, in collaboration with a global provider, offering both tracked and untracked shipping options worldwide.
This investment underscores Tietoevry Banking’s commitment to maintaining a strong market position in the Nordics and Baltics while also expanding its international footprint. The facility is already operational and will be officially inaugurated on June 14. It joins Tietoevry Banking’s existing network of personalization facilities in Norway and Finland, which together handle the personalization of approximately 20 million cards annually.
Source: fintech.global
