SIA-SSB and Volksbank International Group: agreement for the management of payment cards, ATM and POS in 9 countries in Central and Eastern Europe

Milan, 14 July 2009 - SIA-SSB has signed a framework agreement with Volksbank International (VBI), a part of the fourth largest banking group in Austria, to provide issuing and acquiring service for the complete management of credit and debit in 9 Central and Eastern European countries (Slovakia, Czech Republic, Hungary, Slovenia, Croatia, Romania, Bosnia-Herzegovina, Serbia and Ukraine) through a single centralized platform.

Thanks to this agreement, which is for five years with option to extend, the 600 outlets in the VBI network will be able to use SIA-SSB's technology infrastructure to manage operations relating to payments carried out with credit and debit cards. Michel Ivanovsky, Member of Managing Board and COO of VBI : "We will make a big step forward with this new infrastructure. Magyarorszàgi Volksbank in Hungary and Volksbank Romania are the first VBI banks at pan-European level to have chosen to use the innovative services developed by SIA-SSB for the international financial system".

More specifically, SIA-SSB will be able to manage the entire authorization process for all types of cards issued, clearing and settlement services, anti-fraud monitoring, ATM and POS terminals and other value-added services for Volksbank International's credit institutions, subscribing merchants and national and international networks.

The flexibility of SIA-SSB's infrastructure will enable complete integration between the VBI bank's branches present in 9 European countries through the use technological solutions customized according to national requirements and, at the same time, expansion of the card offering portfolio.
The adoption of a single, centralized platform by the banks will also permit improved "time to market" in the realization of Volksbank International's pan-European strategy, rationalization of IT systems and cost reductions deriving from the exploitation of economies of scale.

"We are especially proud and satisfied with this important agreement at   international level signed with the Volksbank International Group", commented Gian Bruno Mazzi, Managing Director of SIA-SSB. "This partnership with a member of one of the leading Austrian banking groups, with its extensive presence in Central and Eastern European countries, represents in fact for SIA-SSB further consolidation of our leadership in the payments area in markets with great growth potential".