Home News & events Press Releases 2009 Hipoteku banka, Mortgage and Land Bank of Latvia complete ATM network migration



logo_v2Hipoteku banka, the Mortgage and Land Bank of Latvia, has completed the migration of its ATM network from the processing company, First Data Latvia, to its own in-house processing system. This became possible thanks to the successful certification of the bank’s new processing centre in the ATM acquirer program, including EMV, with the payment systems Mastercard and Visa. Hipoteku banka has been using TranzWare Online by Compass Plus as the platform for its processing centre, which has been in operation since 2004.

The purpose of the ATM migration to the bank’s own host was to reduce processing costs whilst improving the quality of monitoring and after-failure recovery responses, as well as the introduction of additional ATM services. The completion of the ATM migration has provided the bank’s customers with the opportunity to manage their accounts via ATMs, in particular, to transfer funds from a card account to a saving account and vice versa. The bank also intends to develop its cash-in services, such as cash deposits, cash payments for various services and currency exchange.

In addition, the bank continues to pay special attention to the safety of the performance of financial transactions using plastic cards. This security awareness led to the introduction of TranzWare Fraud Analyzer, an analytical system capable of the instant detection of, and response to fraudulent operations in 2007. Yanis Troksh, the Director of Electronic Transactions Department at Hipoteku banka, has said of the system: “This system enables the bank track the changes in the behavioural activities of customers and identifies atypical behaviour that may indicate fraud. It is possible to analyze various transaction details, and, if predefined rules are triggered, we can manipulate the system objects: to block a card, change the limit or point score, contact the card holder, etc. The launch of TranzWare Fraud Analyzer has brought the benefit of a significantly accelerated process of interaction with customers and the resolution of problems encountered, for example, if customers face rejection of their transactions due to incorrect PIN or exceeding a predefined limit. The key benefit remains the dramatic decrease in fraudulent card transactions.”

Hipoteku banka is the only Latvian bank with 100% state participation. The bank is a Principal Member of Visa and Mastercard, and has an ATM network of 60 devices with more than 40,000 active cards in issuance.

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