Tietoevry

What Tietoevry does

Tieto is a publicly listed Nordic software and digital engineering company headquartered in Espoo, Finland, operating across four business units: Tieto Banktech (banking and payments), Tieto Caretech (healthcare and welfare), Tieto Indtech (energy, manufacturing, paper and fibre), and Tieto Tech Consulting. The company serves over 250 financial institutions, Nordic municipalities and central banks, and industrial enterprises, with named customers including Luminor, Danmarks Nationalbank, Cultura Bank, OBOS Bank, Allianz Bank Bulgaria, Metsä Tissue, and Koillis-Satakunnan Sähkö. Core products include a cloud-native Payments-as-a-Service platform built on AWS, a multi-tenant Cards-as-a-Service (CaaS) platform supporting more than 14 million active cards, the Lifecare suite for healthcare workforce and AI documentation, and the Public 360° case and document management system deployed across the Scandinavian central banks.\n\nThe company generates revenue through a mix of recurring software licensing/subscription (core banking, healthcare, payment platforms), multi-year enterprise contracts with annual billing, and digital engineering and managed services engagements (typically time-and-materials or fixed-price). GTM is enterprise field sales with dedicated business-unit teams, supplemented by inside sales and channel partnerships (BEC Financial Technologies, IC Cash, Version 1, OpenSpring/Grupo Onetec in Iberia). After the 2025–2026 divestitures of Tech Services (€300m to Agilitas/Vivicta), Bekk Consulting (€150m to Axcel), and Edlevo/HR & Payroll (€95m to EG), continuing operations generate approximately €2 billion in annual revenue with a 14.7% adjusted EBITDA margin in Q1 2026.\n\nStrategic positioning in 2025–2026 centers on portfolio simplification toward higher-margin vertical software, geographic expansion into Iberia and Germany, and a major AI upskilling partnership with Microsoft covering 5,000 consultants. The company carries approximately 14,000 employees globally, operates from offices in Finland, Sweden, Norway, Spain, Portugal, the United States (Minneapolis via MentorMate), Argentina, and Germany, and trades on Nasdaq Helsinki and Nasdaq Stockholm under the ticker TIETO following its March 2026 rebranding from Tietoevry Oyj to Tieto Oyj and the delisting from Oslo.

Name

Tietoevry

Legal name

Tieto Oyj

Website

https://tietoevry.com

Company type

Public

Founded year

2019

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Tieto (formerly Tietoevry) is a Nordic software and digital engineering company organized into four business units—Banktech, Caretech, Indtech, and Tech Consulting—serving over 250 financial institutions, Nordic municipalities and central banks, and industrial enterprises with vertical software, cloud-native payment platforms, and managed services.

Ownership category

akta.pro rank

Product category

Enterprise Vertical Software

NAICS

Activities Related to Credit Intermediation (5223), Other Activities Related to Credit Intermediation (52239)

SIC

Services-Computer Programming Services (7371)

akta.pro primary industry

Cross-Border Payment Routing, Orchestration & Connectivity (FSAMAIAK)

akta.pro secondary industries

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Bank Connectivity & Channels (Host-to-host, SWIFT, APIs, EB portals) (FSABAIAF)

Keywords

• Banking software platforms
• Payment processing solutions
• Healthcare IT systems
• Digital engineering services
• Industrial automation software

Headquarters

HQ city

Helsinki

HQ country

Finland

HQ region

Europe

Offices7 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Software Products & Licensing: Tieto generates recurring revenue through software product licensing, including core banking platforms, healthcare workforce management, document management systems, and payment services sold to financial institutions, healthcare providers, and public sector organizations.
2. Digital Engineering & Consulting Services: Technology consulting and digital engineering services including AI implementation, cloud migration, system integration, and managed services. Revenue declined due to softness in Tech Consulting market.
3. Managed Services & Infrastructure: Managed services including the Orange Business Cloud Avenue migration for capacity and related managed services across all business units. Multi-tenant CaaS platform spreads security and compliance costs across participants.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels6 records

Core offering

Tieto develops and sells vertical software platforms and digital engineering services for regulated industries across the Nordics and Europe. Its banking division (Tieto Banktech) provides core banking, cloud-native Payments-as-a-Service, multi-tenant Cards-as-a-Service, fraud detection, and cash management for 250+ financial institutions; its healthcare division (Tieto Caretech) offers the Lifecare workforce and AI documentation suite for care providers and municipalities; its industrial division (Tieto Indtech) delivers software for manufacturing, energy, and paper/fibre; and Public 360° serves Scandinavian central banks with case and document management.

Product overview

Tieto (formerly Tietoevry Oyj, rebranded March 2026) operates as a Nordic software and digital engineering company organized into four business units: Tieto Banktech (banking and financial services technology), Tieto Caretech (healthcare and care services software), Tieto Indtech (industry and manufacturing technology), and Tieto Tech Consulting (technology consulting services). Tieto Banktech is the largest division, providing a core banking platform with cloud-native Payments as a Service, Card as a Service (CaaS) supporting 14+ million active cards across 250+ financial institutions, an API Hub, Open Banking Sandbox, fraud detection, cloud cash management, and ATM services. Tieto Caretech's flagship product is the Lifecare platform, featuring the Workforce Planner and AI Documentation Support, operating within Finland's national Kanta ecosystem. Tieto Indtech provides industry-specific software including energy management, manufacturing, and paper & fibre solutions, with recent divestments of Edlevo and HR & Payroll to EG. Tieto Tech Consulting offers AI-enabled manufacturing solutions, connected workforce tools, and end-to-end data platforms. Tieto also provides Public 360° case and document management to Nordic central banks. The company has undergone significant portfolio simplification since 2025, divesting Tech Services (to Vivicta/Agilitas, EUR 300m), Bekk Consulting (to Axcel, EUR 150m), and Edlevo/HR&Payroll (to EG, EUR 95m), while acquiring MentorMate (US, 2023), OpenSpring and Grupo Onetec (Spain, 2026, EUR 8m) to expand into new geographies.

Differentiator

Problem solved

Functional benefit

Brands

• Tieto Banktech: Banking and financial services technology solutions
• Tieto Caretech
• Tieto Indtech
• Tieto Tech Consulting
• Tieto Create

Products and services

• Tieto Banktech Banking Platform
• Tieto Banktech Card as a Service (CaaS)
• Tieto Banktech Payments as a Service
• Tieto Banktech Cloud Cash Management
• Tieto Banktech API Hub
• Tieto Banktech Open Banking Sandbox
• Tieto Caretech Healthcare Software
• Tieto Caretech Lifecare Workforce Planner
• Tieto Public 360°
• Tieto Indtech Industrial Software
• Tieto Tech Consulting

Quantifiable outcome

• Norwegian banks blocked NOK 2.3bn in attempted fraud; Danish banks prevented DKK 500m in fraud in 2025
• +3 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

AI capability14 records

Feature5 records

Partnerships

15 partnerships are on record, tiered core, flagship, strategic and minor.

• LuminorcoreImplementation/ SI/ Consulting Partner · 20 May 2026Luminor, Baltic bank, completed migrating its core payment services onto Tieto Banktech's Payments as a Service platform built on AWS, consolidating SEPA Credit Transfers, SEPA Instant Payments, and cross-border payment operations across Estonia, Latvia, and Lithuania.
• Danmarks NationalbankcoreImplementation/ SI/ Consulting Partner · 6 May 2026Danmarks Nationalbank awarded contract to Tieto to implement an Electronic Case and Document Management System based on Public 360° platform. Solution covers case handling, document management, workflows, and information governance with integration into existing IT environment.
• GEP SoftwarecoreTechnology or Integration · 5 May 2026Tieto selected GEP's AI-native Source-to-Pay platform to transform its sourcing and procurement operations. The platform will digitize and integrate sourcing, purchasing, and supplier management on a single scalable system, increasing automation across high-volume transactions and improving end-to-end visibility.
• MicrosoftflagshipStrategic or Co-development Partner · 29 April 2026Strategic partnership with Microsoft to upskill 5,000 consultants in AI capabilities, enabling Tieto to elevate and enrich customers' business with AI solutions from proofs-of-concept to use cases in production and scale.
• BEC Financial TechnologiesstrategicStrategic or Co-development Partner · 2 April 2026BEC partnered with Tieto Banktech to develop and implement a cloud-based cash management solution for large corporate clients within BEC's banking operations. The solution offers real-time liquidity visibility, cash pooling, and flexible credit facilities.
• EGstrategicChannel Partner/ Reseller/ Distributor · 18 February 2026Tieto sold two software businesses (Edlevo and HR & Payroll) from Tieto Indtech to EG for EUR 95 million. The divestment aims to streamline Tieto Indtech's portfolio, with transaction expected to close in Q2 2026.
• Orange BusinesscoreTechnology or Integration · 17 February 2026Framework agreement making Orange Business a significant capacity and managed services provider for Tieto across all four business units. Tieto Banktech will be first to migrate to Orange Business's Cloud Avenue sovereign European cloud platform starting H2 2026, with approximately two-year transition period.
• OpenSpring and Grupo OnetecstrategicStrategic or Co-development Partner · 9 January 2026Tieto acquired OpenSpring and Grupo Onetec from AFI Family Espana for EUR 8 million enterprise value. Combined companies have approximately EUR 10 million revenue and nearly 200 employees in Spain and Portugal, forming foundation for Tieto Iberia expansion in Banktech and Caretech.
• Cultura BankstrategicImplementation/ SI/ Consulting Partner · 14 December 2025Tieto Banktech signed 5-year agreement with Cultura Bank to deliver modern full-service technology solutions including core banking platform, mobile and online banking, and payment services. Cultura Bank is joining Lokalbanksamarbeidet consortium of 16 independent Norwegian savings banks.
• IC CashminorChannel Partner/ Reseller/ Distributor · 8 September 2025Tietoevry Banking entered Germany's ATM market through partnership with IC Cash, expanding footprint in European banking technology market.
• Winner Group UkraineminorChannel Partner/ Reseller/ Distributor · 18 August 2025Tietoevry Create partnership with Winner Group Ukraine for SAP implementation services, expanding delivery capabilities in Eastern European market.
• Enzym GroupminorChannel Partner/ Reseller/ Distributor · 5 August 2025Enzym Group and Tietoevry partnership to launch SAP solutions, combining Enzym's industry expertise with Tieto's SAP implementation capabilities.
• COSMO CONSULTminorImplementation/ SI/ Consulting Partner · 5 August 2025Tietoevry Tech Services and COSMO CONSULT partnered to support digitalization in waste management sector, combining consulting and technology capabilities.
• Version 1minorImplementation/ SI/ Consulting Partner · 27 March 2025Version 1 and Tietoevry Banking formed strategic partnership to drive digital transformation for banking customers, combining Version 1's implementation capabilities with Tieto's banking solutions.
• SiemensstrategicStrategic or Co-development Partner · 3 December 2024Siemens and Tietoevry extended partnership to further digitalize power utility sector in the Nordics, combining Siemens' industrial automation with Tieto's digital transformation capabilities.

Scale indicators13 records

Recent moves9 records

Expansion highlights6 records

Emerging players

• nCino: US-listed cloud banking platform for commercial, retail, and mortgage workflows. Competes with Tieto Banktech in cloud-native bank operating systems, with growing European presence among banks modernizing their technology stacks.
• Mambu: Berlin-based cloud banking SaaS platform for lending, deposits, and accounts. Targets European banks and fintechs that overlap with Tieto Banktech's installed base, particularly in core deposits and embedded finance.
• Thought Machine: UK-based cloud-native core banking provider whose Vault platform targets the same European mid-sized and challenger banks that Tieto Banktech serves. Represents the leading next-generation competitor to Tieto's traditional core banking stack.
• Backbase: Amsterdam-based digital banking and customer engagement platform. Competes with Tieto Banktech on the customer-facing digital banking and engagement layer for European banks, including Nordic FIs.

Broad incumbents

• Capgemini: Global IT services and consulting leader with strong presence in Nordic banking and industrial verticals. Competes with Tieto across Tech Consulting and Banktech implementation services for large enterprises.
• CGI Group: Canada-listed IT consulting and systems integration firm with deep Nordic and Northern European presence. Competes with Tieto Tech Consulting in digital engineering and IT services for regulated enterprises.
• Fiserv: US-listed global fintech providing account processing, card services, payments, and merchant acquiring. Overlaps with Tieto Banktech in card issuing (CaaS comparable) and core banking for FIs in Europe and globally.
• FIS (Fidelity National Information Services): US-listed global provider of core banking, payments, capital markets, and wealth software with significant European footprint. Overlaps with Tieto Banktech in core banking, payments processing, and card services for financial institutions.

Direct peers

• Temenos: Swiss-listed vendor of core banking, payments, and wealth management software to banks globally. Temenos competes head-to-head with Tieto Banktech in core banking, payments, and card platforms for Nordic and European mid-sized banks.

Regional players

• Visma: Nordic-based software and SaaS company providing business software (ERP, HR/payroll, public sector) to Nordic and European SMEs and public sector. Overlaps with Tieto's remaining software portfolio and is the most direct Nordic software peer.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@TietoGlobal
• LinkedInlinkedin.com/company/tietoevry
• Instagraminstagram.com/tietoglobal
• Xx.com/TietoEVRYin
• Facebookfacebook.com/Tietoevryin

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries7 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A12 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Tietoevry