Case study – EVRY Financial Services

Innovating IT today, defining banking for tomorrow

New regulations, new competition and evolving customer expectations as well as rapid technological development are driving digital transformation and the move toward open banking models. It is essential for banks to embrace and adapt to these changes, which are creating new opportunities. EVRY has the experience, resources and skills that banks and financial institutions need to transform their operations and continuously generate digital advantages.

EVRY Financial Services offers a broad and comprehensive portfolio of solutions to support banks in their management of continuous change and to facilitate the next generation of banking services. Through its in-depth industry knowledge, EVRY helps its banking customers to innovate and to generate new ideas that change how they operate and compete, with its services ranging from developing the customer experience to modernizing and simplifying key IT systems and improving an organisation’s cost efficiency by automating its processes.

Open banking

Many banks have already deployed different open banking initiatives that have enabled them to gain access to an expanded ecosystem of services and to reach new customers. EVRY´s solutions for open banking help customers to securely share and consume financial data with financial institutions, fintechs and third parties. Several banks have entered into agreements with EVRY, and have thus started investing in frameworks and solutions that enable their business and operational models to harness the value of open banking.

Next generation core banking and payment solutions

The banking industry continues to change quickly. The bank of the future will open up and share its capacity through new business models. In order to be able to do this, banks need flexible core banking and payment solutions that provide real-time access to data and are dynamic, scalable, customer-centric and efficient. EVRY's solutions are built on industry standards and modern architecture that is fit for the digital economy, including a high degree of automation, and support straight-through processes and are easy to integrate with third parties.

EVRY Financial Services serves more than 165 customers in 18 countries

Examples of customers and deliveries

Card services and mobile payments

The world of payments is evolving, and consumer and business behaviour is changing rapidly, moving towards even faster and easier methods of payment. EVRY provides a comprehensive portfolio of card and mobile payment services, and offers physical and virtual cards, including full lifecycle management, as well as other related services. Our scalable, compliant and internationally adapted card platform enables our customers to manage all types of payment instruments using a single administration tool. This ensures flexible and cost-efficient services, and enables customers to launch new products and services to the market more quickly.

Lending services

Lending is one of the most complex processes that banks carry out since it involves multiple steps and specialist roles. In order to support the efficient and automated processing of loans and credit, EVRY offers services covering the entire loan life cycle that meet the particular needs of both the private and corporate markets. EVRY delivers its lending services to customers across the Nordics and Europe.

ATM services

Recent years have seen a significant decline in the use of cash in the Nordics, but cash will still remain crucial for the foreseeable future. EVRY is seeing banks throughout Europe become increasingly interested in reducing the costs of handling cash. With our expertise and experience, we can play a vital role in delivering optimized, secure ATM networks to the European market. EVRY is one of the few suppliers in the world that offers a true ATM-pooling solution, and currently delivers ATM services to customers in the Nordic and European markets.

Cash management

Enterprises that manage their working capital effectively benefit from better cash flow, achieve higher returns on invested capital and can reduce the cost of funding. However, optimising working capital in complex organisational structures can be a demanding task. EVRY provides banks with sophisticated cash management solutions, which include multi-currency cash pool, cross-border cash pool and global liquidity management services. These solutions enable banks to offer their corporate customers advanced products that enable them to enjoy superior liquidity optimisation, shorter times to market and lower operating expenses.

Card fraud prevention services

Although the Nordic countries have one of the lowest rates of card fraud in the world, fraudsters are becoming increasingly sophisticated and organized. With EVRY’s card fraud services, potential fraud can be detected before it happens, reducing fraud losses. Our team of experts and analysts ensure that banks receive maximum protection against fraudulent transactions. Integrating artificial intelligence into our solutions is increasing the accuracy of real-time authorisation for genuine transactions and is helping to stop more attempts to commit fraud. EVRY’s solutions currently stop eight out of ten fraudulent transactions.