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International Internet Magazine. Baltic States news & analytics Tuesday, 24.04.2018, 04:10

Tieto Latvia has developed national instant payments software for Kenya

BC, Riga, 16.02.2017.Print version
Tieto Latvia IT company has developed national level instant payments platform for Kenya, BC learned from the company.

The platform has been developed for the needs of the Kenyua Bankers Association (KBA) and will enhance banks’ efficiency across all digital platforms. The Tieto-developed payments software will enable KBA to develop instant payment services for the 45 KBA-member banks, becoming the first real-time interbank transaction platform in East-Africa region.

Kenya has modeled the industry switch after similar platforms including Ghana, Zimbabwe and the United Kingdom.

Tieto Latvia deals with development, introduction and support of software, and employs more than 700 people. The company is fully owned by Finnish Tieto Corporation.

In 2015 Tieto Latvia generated EUR 40.356 mln in sales, and its profit reached EUR 4.008 mln.

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