Agreement with Bank Norwegian

Nets and Banqsoft have signed a five year agreement with Bank Norwegian for development of the bank’s credit card solution and the solution for loans and savings products.

– We are delighted that Bank Norwegian chose Nets and Banqsoft for the operation and development of its credit card solution and the solution for loans and savings products. We look forward to contributing to the realization of the bank’s growth ambitions, says Staale Rasmussen, Sales Director Financial Services in Nets.

According to the agreement, Nets will deliver issuer services, authorization, technical clearing and settlement of card transactions, issuance of PINs and integration with Visa and MasterCard. Banqsoft delivers user interface, account functionality and financial authorization.

– Nets and Banqsoft have complementary solutions that make it possible to put together services from both companies and offer a comprehensive solution to Bank Norwegian. We are proud that Bank Norwegian chose us for their credit card solutions, says Rasmussen.

Banqsoft sees clear advantages in the cooperation with Nets in the banking segment and is pleased to have entered into an agreement with Bank Norwegian.

– The agreement with Bank Norwegian demonstrates the strength of our strategic partnership with Nets for delivery of flexible and cost-effective services for banks and card issuers. Bank Norwegian had as per Q2 2014 a total of 273,100 credit card customers in Norway and Sweden. The solutions for management of said portfolio is what Banqsoft and Nets initially will deliver, says Johnny Rindahl, Managing Director at Banqsoft.

This is a five-year agreement, with a six-month implementation phase. Bank Norwegian looks forward to commencing the collaboration.

– The agreement with Banqsoft and Nets provide us with partners who can offer flexibility and functionality in line with the needs and opportunities that we envisage may arise in the future. We also look forward to being challenged on innovation and continuous improvement of our new partners, to the benefit of our customers, says Erik Jensen, Managing Director of Bank Norwegian.