STOCKHOLM, Sweden, Dec. 18, 2002 (PRIMEZONE) – Smart card company Setec and Norwegian bank card company TAG Systems have signed an agreement to start cooperation in Sweden. The agreement strengthens the market position of both companies in the Nordic card markets and increases companies’ ability to meet demanding customer needs also in the future.
This signed contract aims to unite Setec’s and TAG’s card businesses in Sweden. The future company will provide end-to-end card services to the Swedish customers especially in the banking, government and retail sector. “Cooperation with TAG strengthens Setec’s position in the Nordic banking markets. While the bank cards are becoming more advanced, chip-based by year 2005, Setec’s strong smart card know-how will be in more significant role in the Nordic banking market. Setec has already a significant market share in the banking sector in Finland and Denmark and the agreement makes it possible to offer new EMV card solutions to Swedish banks also,” says Mr. Jarmo Rouhiainen, Senior Vice President, Setec. He estimates that Visa certified personalization of EMV cards in Sweden would be ready during autumn 2003.
“TAG Systems’ sophisticated service concept has been a great success in the Norwegian banking markets. To be able to meet growing and more demanding customer needs, service providers have to invest and be innovative. This agreement gives us an excellent opportunity to serve bank customers also in Sweden,” says Mr. Jon Neeraas, Vice President, TAG Systems.
For further information, please contact: Mr. Jarmo Rouhiainen, Senior Vice President, Banking & Retail Tel. + 358 9 89411, GSM + 358 400 450599
Mr. Jon Neeraas, Vice President Tel. + 47 75 12 81 07, GSM + 47 913 71350
Setec – your partner in high security smart cards and visual identification
Setec’s mission is to secure the identification of people and transactions in open data networks and face-to-face communication. Our means to fulfil this mission is to provide secure smart card solutions and tamper-proof visual identification documents for banks, telecom operators and public authorities globally. Setec’s card solution includes smart cards and applications, visual security elements, personalisation and key management, as well as middleware components and consulting. Partners are of increasing importance in our card solution. We work in close cooperation with global technology companies, which integrate our card solution into their own products, local card companies personalising our card products for local market, and system integrators responsible for large data system projects.