Home News & events Press Releases 2008 SEB Bank launches processing centre built on TranzWare


SEB_58With expert support from Compass Plus, SEB Bank, based in Saint Petersburg, Russia, has launched its processing centre built on TranzWare solutions.

Having an in-house processing centre ensures direct control of the bank’s issuing and acquiring businesses as well as efficient interaction with external systems. This in turn means a higher level of control over the technology, business processes, banking products, and other aspects of card and EFT business, and will ultimately increase SEB Bank’s competitive advantage in the retail financial services market.

Compass Plus already has successful experience of cooperation with subsidiaries of international banks and financial holdings, however, the project with SEB Bank was unique for several reasons.

In this project, Compass Plus acted not only as a vendor of software solutions, but also as a provider of processing services. Compass Plus’ processing centre (certified as a Third Party Processor and Member Service Provider – TPP/MSP) acts as the switch for the Visa international payment system for SEB Bank, with the main bank of the SEB acting as a sponsor. When an associate member of a payment system utilises the resources of a TPP/MSP processor rather than that of a sponsor or an affiliated company, it is a rare scenario in the Russian processing services market. Further to this, during the process of project implementation, the decision to cooperate with bank VTB North-West was made. This required an additional host-to-host interface to be developed for SEB Bank’s processing centre.

SEB Bank therefore determined for itself the optimal form of interaction with the payment system, which was then effectively implemented with the help of front office system TranzWare Online. One advantage of this configuration is that the organisation of host-to-host interaction was established between the compatible solutions of the bank and the processor, which not only enabled the implementation of the functional solution but was also very cost-effective.

The vast functionality and significant performance potential of TranzWare Online will, if necessary, modify or extend the processing functionality within a short time span, correct the condition and the logic of customer service, and respond quickly to an increase in business volumes. Other Compass Plus products that run in SEB Bank’s processing centre include the back office system, TranzWare Card Management System, the card personalisation tool, TranzWare Card Factory, and the system for the clearing and settlement of payment systems, TranzWare Interchange.

The only shareholder of SEB Bank is one of the largest financial groups of Scandinavia – Skandinaviska Enskilda Banken (publ.) AB, which owns 100% of Bank’s shares. SEB (Skandіnavіska Enskіlda Banken) is a North European financial group serving 400,000 corporate customers and institutions and more than five million private individuals. SEB has full-service operations in Sweden, Germany, in the Scandinavian and Baltic states, as well as in Poland, Ukraine, and Russia. The group has over 22,000 employees in 20 countries.

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