07 Feb 2011 08:30

SEB first Nordic bank to offer corporate clients payment services with Tieto Payment Factory via SWIFT

SEB's corporate clients can more quickly and cost effectively reach all their gobal banking partners and handle ther international and domestic payment and reporting needs through one single service - Tieto Payment Factory service with SWIFT Service Bureau. SEB is the first bank in the Nordic region to be connected to Tieto Payment Factory via SWIFT, and first among the European banks to offer both fully automated payment and reporting processes using the ISO20022 messaging standard. The first client to use the service is Tieto's own shared service centre and treasury department.

"International corporations are doing business with several banks located in a variety of countries. Previously bank connectivity services have usually been provided via bank-specific channels requiring bank-specific implementation. Through Tieto's Payment Factory SEB's corporate customers can easily connect to SWIFT and reach all their banking partners through a single global channel. SWIFT allows us to better serve our global customers by significantly lowering their bank connectivity costs and the implementation time required," says Lars Millberg, Head of SEB Global Transactions Services Corporates.

"Better funds visibility and improved cash and liquidity management are key objectives for our corporate customers. Simplifying bank connections is an important element in reaching these objectives. Providing cash management services to corporate customers using SWIFT is important for SEB. Tieto is happy to support the bank's strategy in this area," says Markus Hautala, Director, Tieto, Value Networks.

"This service has helped us a great deal with our SEPA implementation project," says Janne Salminen, Group Treasurer of Tieto.  "This is also one of the cornerstones in our project to harmonise Tieto's global cash management processes."

For further information, please contact
Lars Millberg, Global Head of SEB Global Transactions Services Corporates, SEB
+46 (0) 8 763 85 46, +46 (0) 70 562 15 78


Markus Hautala, Director, Tieto, Value Networks
+358 (0) 40 182 4299
Press contact
Elisabeth Lennhede, Press & PR, SEB
+46 (0) 8 763 99 16,+46 (0) 70 763 99 16


SEB is a leading Nordic financial services group. As a relationship bank, SEB in Sweden and the Baltic countries offers financial advice and a wide range of financial services. In Denmark, Finland, Norway and Germany the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in 20 countries worldwide. On 31 December 2010, the Group's total assets amounted to SEK 2,180bn while its assets under management totalled SEK 1,399bn. The Group has about 17,000 employees, excluding the German retail operations. Read more about SEB at www.sebgroup.com.

Tieto is the leading IT service company in Northern Europe providing IT and product engineering services. Our highly specialized IT solutions and services complemented by a strong technology platform create tangible business benefits for our local and global customers. As a trusted transformation partner, we are close to our customers and understand their unique needs. With more than 17 000 experts, we aim to become a leading service integrator creating the best service experience in IT. www.tieto.com