Norwegian banking group SpareBank 1 Gruppen will license Total System Services Inc.'s Prime 4 card-management system to support its issuance and issuer-processing activities under a deal the two companies announced.
SpareBank 1 will use the platform to support a range of retail credit, charge, prepaid and contactless cards that carry the MasterCard and Visa brands, according to an Aug. 16 TSYS press release.
Owned by an alliance of 16 cooperative banks, SpareBank 1 has a major presence across Norway with 352 branches. The group began its search for a card-management service and partner in 2011 after it decided to create its own card-center infrastructure.
"Providing competitive banking products and services to consumers is our ultimate goal, and working with TSYS will help us realize further expansion in the area of cards and payments," Øivind Mellbye, SpareBank 1 project manager, said in the release.
Prime 4 offers users a Web-based, scalable service built in accordance with Service Orientated Architecture for improved interoperability and increased operational efficiency. It was designed to meet the standards of TSYS data centers.
"It will provide SpareBank 1 with a future-proof platform for expansion to support its business development strategy and future growth," Gaylon Jowers, TSYS International president, said in the release.
