PBS will now process all transactions made with Ikano Bank’s 39,000 cards in Finland. The conversion of Ikano Finland’s cards to PBS’ platform follows a set of similar conversions involving Ikano Denmark, Ikano Bank Norway and Ikano Bank Sweden for which PBS already processes transactions and related services.
In 2007, Ikano Bank entered into an agreement with PBS that entails that PBS supports Ikano’s card business in the countries in which Ikano Bank operates. As a result of this agreement, Ikano Bank will gain a higher degree of efficiency as its card business will now be consolidated centrally.
Bengt Eriksson, head of operations at Ikano Bank, said: “An important part of our efforts to realise economies of scale is through implementing shared solutions for our operations in different geographical markets.”
Ikano Bank plans to convert Ikano Germany to PBS’ platform in the second half of 2009, which means that Ikano Germany’s operation will be based on the same solution as the rest of the Ikano Group.
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