Nomad to provide card payment processing services to Ukrainian Financial Network

9 March 2007

The Ukrainian Financial Network has selected the CORTEX software platform from Nomad to provide a range of card payment processing services to its members in the Ukraine.

Nomad’s CORTEX software will initially be used to drive a full service network of almost 700 ATMs and kiosk devices and 500 POS terminals supporting EMV card issuance as well as authorisation for member banks and access to external switches in the country. This represents the first stage of growth planned by the Ukrainian Financial Network (UFN) to bring first class functionality, services and choice to the Ukraine banking sector.

One of the key factors in the Ukrainian Financial Network’s decision to use CORTEX was Nomad’s continued partnership with D8 Latvia SIA in the Central and Eastern European markets. Andrii Aushev, Ukrainian Financial Network chairman said: “Following an intensive selection process we selected Nomad, one of Europe’s leading front end switch and card management vendors, due to its demonstrated ability to support multi-institution processors and because of the wide range of installed functionality that we can leverage effectively to offer the best possible service to our members. We are sure that local presence of D8 Ukraine, a subsidiary of D8 Latvia, backed by Nomad's professional services team will guarantee almost immediate implementation of our new products and new business ideas in the future. This ability to react quickly and think locally in combination with the open architecture of Nomad’s CORTEX software will help Ukrainian Financial Network to distinguish itself from competing organisations in the region”.

John Yeomans, Chief Executive of Nomad commented: “We are very pleased to extend our activities into this market and to have this opportunity to support the future success of the Ukrainian Financial Network. This marks the beginning of significant activity for Nomad in the Ukraine where we are also supporting the expansion of one of our other customers, EFG Eurobank, into the market. This success also endorses our commitment to the partnership with D8 Latvia and their abilities to deliver”.

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