UPC selects Tietoevry Banking to offer open banking services in Ukraine

By Gloria Methri

Ukrainian Processing Center (UPC) and software and services company Tietoevry Banking have joined forces to develop open banking services in Ukraine. The partnership will enable UPC to be a leader open banking platform with a modern way for Ukrainian financial institutions to access value-added services through the open API marketplace.

To create an Open API Marketplace, UPC will launch a new Open Banking Platform in collaboration with Tietoevry Banking later this year. The new platform will offer a quick and standardized way for customers to access a broad range of different services provided by UPC. It will also allow UPC to run the business of API aggregation in Ukraine and beyond.

Valdis Janovs, Head of Instant Retail Payments, and Cards in Tietoevry Banking said, “We are truly proud to enter this partnership with UPC and proactively support their journey on creating a new Open Finance offering to drive innovation, efficient and secure payment services for the financial sector in Ukraine. As a trusted technology provider, we do ensure that UPC can access world-class API banking technology to go beyond PSD2 requirements delivering better and data-rich services for UPC customers and increasing loyalty in the years to come”.

Anton Romanchuk, CEO of UPC, added, “We are looking forward to working with Tietoevry Banking on this digitalization journey. For us, the launch of the new platform means an opportunity to expand our service offering, reduce costs and optimize access to our services’ APIs. Our customers get fast integration with UPC, unified API, and quick time to market for products and services to the benefit of our customers.”

Tietoevry Banking Open Banking Platform offers an opportunity to aggregate APIs from many financial players in the market, including FinTechs, banks, and other payment service providers. This way, it also aggregates different customer services and publishes via unified APIs, reducing efforts for service integration.