Milan and Budapest, September 21 2016 – Budapest Bank, a leading payment cards issuer in the Hungarian market, has selected SIA, a company specializing in the management of electronic payments, to create and implement a new payment cards management system.
The agreement covers the migration of the full debit and credit cards portfolio of Budapest Bank to SIA’s card processing technology platform and the integration of the SIA solution to the bank’s current services for long-term cooperation.
Budapest Bank has been seeking a new outsourced infrastructure for card management as a result of the separation from its previous owner. The role of SIA will be to support Budapest Bank as a business and technical solution provider in the creation and implementation of its new payment cards management services.
SIA was identified as the preferred partner for the migration project and transaction processing. The delivery of the new system is a major initiative in cooperation between Budapest Bank and SIA which currently processes over 65 million payment cards in 16 European countries.
“We have conducted an extensive selection process to find the optimal long-term solution that enables Budapest Bank to efficiently handle its portfolio and best serve its customers. I’m convinced that the over half million active cards and 30 million transactions Budapest Bank is currently servicing will continue to grow, and the support of SIA will enable us to keep ahead of the continuously evolving card payment trends”, explains Bálint Kelemen, Chief Information Officer of Budapest Bank.
“Budapest Bank will be a key customer of SIA and we are now able to provide processing infrastructure and other innovative value added services. Both parties are going into this partnership with great enthusiasm, resulting in the signing of a long-term contract. This represents an important step for SIA in the development of new initiatives at international level and also to reinforce our position in the Hungarian market,” comments Dirk Brackenier, Chief Executive Officer of SIA Central Europe.