Unison Bank embarks on issuing popular payment cards utilising TranzWare from Compass Plus

15 April 2014

Unison Bank, a new financial institution in Ukraine, has announced that it has successfully launched an in-house processing centre built on TranzWare from Compass Plus. The bank, which issued its first cards on 2 April 2014, now offers a range of card products including debit and salary cards and cards with overdraft functionality, which are proving popular in the market. The bank is also planning to offer revolving credit cards.

The first phase of the project saw the bank become a member of MasterCard International via one of its partner banks. It plans to connect to Visa International and upgrade its membership status to Principal Member in both payment systems. Unison Bank is also looking to build an in-house personalisation bureau, implement a fraud prevention and detection system and develop remote banking services.

The creation of the in-house processing centre has provided a number of benefits for the new bank: it enables technological independence, has substantially reduced development time and time-to-market for new products and services, as well as minimized the costs of technological support for developing the bank’s retail business. This project is essential to the bank’s strategy of developing an innovative Ukrainian bank focused on highly efficient retail business.

Roman Soldatenko, Deputy Chairman and Board Member at Unison Bank, said: “Building of an in-house processing platform was one of the key elements of our bank’s business strategy. The highly competitive financial market and our extensive development plans meant that particular attention had to be paid to the speed and quality of the project implementation. We are very pleased that Compass Plus has managed to support us and implement this joint project in the shortest time possible. The flexibility of products from Compass Plus has enabled us to adapt to changing market demands and stay competitive in a challenging environment.”

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