NOBA Bank Taps Tieto Banktech to Bolster Payment Security Infrastructure
NOBA Bank Group and Tieto Banktech announced a partnership on Jul 02, 2026, to implement Verification of Payee functionality across NOBA's brands, Bank Norwegian and Nordax Bank. Finland is planned as the first rollout market, with the infrastructure built to support expansion across all markets where NOBA operates. The implementation covers both European Payments Council VoP and Nordic Verification of Payee, addressing Euro and Nordic payment flows.
Tieto Banktech will deliver the solution as a SaaS service on AWS public cloud. For NOBA Group, which operates across several European markets, the platform provides a configurable foundation rather than a country-by-country approach. The deal comes as European payment fraud rose from €3.5 billion in 2023 to €4.2 billion in 2024, according to a joint EBA and ECB report.
- Demonstrates continued bank investment in payment security infrastructure, a foundational requirement for safe embedded finance and BaaS operations
- VoP deployment across more banks strengthens the trust layer needed for open banking and fintech partnership models in Europe