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    TIETO   FI0009000277

TIETOEVRY OYJ

(TIETO)
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Delayed Nasdaq Helsinki  -  11:29 2022-11-29 am EST
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TietoEVRY Oyj : follows Bank Norwegian to Germany and Spain

07/12/2021 | 03:14am EST

Published: 12 July 2021

TietoEVRY Card Issuing and Financial Crime Prevention have reached an important agreement with Bank Norwegian to follow the bank on their journey to Europe by expanding into Germany and Spain. Bank Norwegian's customers in those countries will now get access to market leading credit card services that also cover fraud prevention.

The agreement is an extension of the existing partnership, in which TietoEVRY delivers state-of-the-art Software-as-a-Service (SaaS) card services to Bank Norwegian in Norway, Sweden, Finland and Denmark. TietoEVRY will now deliver the same wide spectrum of card and fraud prevention services in Germany and Spain also.

'The extension of our existing agreement with TietoEVRY will secure that we enter both Germany and Spain with well-proven and competitive solutions. It is important for Bank Norwegian to have access to innovative solutions with high availability. Our goal as a fully digital bank is to provide easy-to-use and standardised digital products also for the new markets,' says Merete Eikeseth Gillund, Head of New Markets in Bank Norwegian.

For TietoEVRY the agreement strengthens Financial Services Solutions' growth ambition of expanding into new European markets.

'We are pleased with the trust shown to us by Bank Norwegian and happy to follow the bank into new countries with our scalable and modular services,' says Mario Blazevic, Head of Card Issuing in TietoEVRY.

'We are looking forward to delivering efficient fraud prevention services in these new markets. This is an important agreement, as insight and data from new countries will further improve our services and contribute to preventing financial fraud,' says Gunnar Koren, Head of Financial Crime Prevention in TietoEVRY.

Bank Norwegian is planning to go live in Germany and Spain in the last quarter of 2021.

For more information, please contact:

Mario Blazevic, Head of Card Issuing in TietoEVRY, mario.blazevic@tietoevry.com
+47 950 33 569

About TietoEVRY

TietoEVRY creates digital advantage for businesses and society. We are a leading digital services and software company with local presence and global capabilities. Our Nordic values and heritage steer our success. Headquartered in Finland, TietoEVRY employs around 24 000 experts globally. The company serves thousands of enterprise and public sector customers in more than 90 countries. TietoEVRY's annual turnover is approximately EUR 3 billion and its shares are listed on the NASDAQ in Helsinki and Stockholm as well as on the Oslo Børs. www.tietoevry.com

About Bank Norwegian
Bank Norwegian is a fully digital and flexible bank for retail customers that has challenged the established banks since its inception in 2007 by offering simple and standardized deposit and lending products online. The bank's investment in new technology, automated solutions and mobile apps provides efficient operations, low costs, great scalability and high flexibility. Our vision is to become a leading European bank within consumer finance, offering our focused product portfolio with highly competitive terms through smooth and digital customer journeys to European customers. Bank Norwegian has 1.7 million customers in Norway, Sweden, Denmark and Finland, and is also listed on the Oslo Stock exchange. Financial reports and information can be found here.

Disclaimer

TietoEVRY Oyj published this content on 12 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 July 2021 07:13:05 UTC.


ę Publicnow 2021
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Financials
Sales 2022 2 920 M 3 019 M 3 019 M
Net income 2022 183 M 190 M 190 M
Net Debt 2022 551 M 570 M 570 M
P/E ratio 2022 17,0x
Yield 2022 5,48%
Capitalization 3 117 M 3 223 M 3 223 M
EV / Sales 2022 1,26x
EV / Sales 2023 1,21x
Nbr of Employees 24 509
Free-Float 87,7%
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Mean consensus HOLD
Number of Analysts 10
Last Close Price 26,32 €
Average target price 26,97 €
Spread / Average Target 2,48%
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Managers and Directors
Kimmo Alkio President & Chief Executive Officer
Tomi Hyrylńinen Chief Financial Officer
Hans Tomas FranzÚn Chairman
Malin Fors-SkjŠveland Head-Operations
Timo Mika Juhani Ahopelto Deputy Chairman
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