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EVRY and MONOBANK enter long-term credit card services agreement

(Oslo, 21 August 2017) EVRY and MONOBANK have entered into a credit card services agreement that will support MONOBANK’s continuing expansion. The agreement runs for five years and includes an option to extend for a further two.

MONOBANK is an independent digital bank with offices in Bergen, and started operating in November 2015. Under the agreement, EVRY will provide MONOBANK with everything from physical and virtual credit cards through mobile payment to card production, as well as related services such as card administration, authorisation processing, transaction monitoring and security solutions to prevent fraud. MONOBANK will itself develop apps and web solutions for its card customers based on EVRY’s services.

Geographic expansion is an important part of MONOBANK’s growth strategy. The bank wishes to offer credit cards to both new and existing customers, and has recently entered into an agreement to provide Widerøe customers with credit cards that allow them to earn Eurobonus points.

“We depend on having innovative and robust services that enable innovation in the payments area. MONOBANK aims to have the most satisfied customers in the market, and developing new and smarter solutions for card payment together with EVRY makes this possible. This agreement with EVRY gives us predictability as well as access to new future-oriented solutions. It also provides us with a cost-efficient platform and a partner with in-depth expertise in banking. These factors, coupled with EVRY’s ability and desire to further develop its products and services to support our focus on credit cards, were of critical importance to our choice of collaboration partner. We are certain that this collaboration will help us to meet our innovation targets and business goals”, comments Martin Valland, CTO of MONOBANK.

“MONOBANK has a target of providing its customers with the best customer experience and is of the view that the best bank is one created together with its customers. EVRY gives it access to stable, flexible and cost-efficient services, which will enable it to expand geographically and to be quicker at taking new services to market. MONOBANK will profit from our specialist expertise, the breadth of our offering, and the quality of our deliveries. We will help make card management simple and efficient and will provide the bank’s customers with the latest in card technology, which will protect their card transactions”, comments Christer Jonsson, SVP Cards, EVRY Financial Services. In addition to MONOBANK, EVRY has entered into equivalent agreements with other newly established challenger banks.

“EVRY has spent many years building up its unique position as a strategic collaboration partner to the banking sector. We have the most comprehensive service portfolio in the market in the card area, and provide deliveries to more than 100 card issuers in 12 countries. There is significant potential for us to grow in this area both by expanding the deliveries we provide to existing customers and by winning new ones, as illustrated by this agreement with MONOBANK”, comments Wiljar Nesse, EVP Financial Services at EVRY.

Contact persons
Wiljar Nesse, EVP Financial Services, EVRY, tel.  +47 934 48 116
Christer Jonsson, SVP Cards, Financial Services, EVRY, tel: + 46 70 333 3040 
Viola Hellström, VP Communications Financial Services, EVRY, tel: + 46 73 708 1727
Martin Valland, CTO, MONOBANK, tel: + 47 40 200 800

MONOBANK is an online-only bank with offices in Bergen that provides unsecured loans and high interest accounts in the Norwegian and Finnish markets. The bank opened on 19 November 2015 and comprises around 35 employees with extensive finance industry experience. The bank has been admitted to trading on Merkur Market with the ticker code MONO-ME, and earlier this year was certified as a “Great Place to Work” on account of its outstanding working environment.