Sparxpres partners with Trifork and Tuum for card and financing platform

By Gloria Methri

NextGen IT company Trifork and modular core banking technology provider Tuum have entered a partnership to provide a bespoke card and financing platform to Danish financial institution Sparxpres, part of Spar Nord. The agreement covers the creation of the platform and five years of subsequent development and operational support.

Sparxpres offers competitive digital financing and credit solutions for private customers, as well as gift card solutions for local councils and nationwide retail chains.

The new platform, which is being built by Trifork, using Tuum’s card and lending modules and in close cooperation with Nets and Visa, provides Sparxpres with future-proof core systems that enable new products to be easily introduced.

Ole Andreasen, CEO of Sparxpres commented, “With the new solution, we will have an updated and future-proof platform for our card and finance products, while at the same time, we will be able to develop and offer innovative products to new customer groups independently.”

With the new platform, Sparxpres will be able to provide both credit and gift card solutions, together with prepaid payment cards that can be restricted to specific purposes.

Jesper Mygind, Vice President at Trifork said, “We are very pleased with the confidence Sparxpres has shown in choosing us to develop their main IT system. With a card and loan platform based on Tuum’s modular banking platform and integrated with Visa and Nets, Trifork stands with a concept that will be attractive for all banks that want to modernise and future-proof their card platform.”

Julien Douve, Global Head of Alliances & Partnerships at Tuum added, “We are very excited to help Sparxpres introduce a whole new set of products to the market on a single, modern platform. Using Tuum’s SaaS core banking solution, coupled with Trifork’s expertise in building cutting-edge FinTech propositions, Sparxpres will be able to launch unique financial products and services faster than ever.”