Pension management company IPAS Indexo (hereinafter – INDEXO) which is currently working on development of a new bank, has chosen Nets, part of Nexi Group, to be a provider of full suite of card issuing services. INDEXO will benefit from an associate VISA licence under Nets VISA licence and leverage extensive issuing knowledge and resources of Nets.

“Enabling card issuing is important milestone for us in bank creation process. We needed a reliable partner who can combine highest security and service standards of card issuing services, and same time remain flexible and modern to contribute to our overall product development. Cooperation with Nets will allow us to develop convenient card user experience for INDEXO Bank customers,” says Vladimirs Bolbats, INDEXO Head of Retail banking development.  

Henrik Anker Jørgensen, CEO of Nets Estonia AS and Head of Baltic Region at Nets Group added, “Nets is delighted to support INDEXO’s development of a new bank by providing critical issuing services. Entering into this partnership strengthens our position as the leading PayTech enabler in Europe, which in turn will help build up the Latvian economy, to not only improve the lives of Latvian citizens, but enhance the global economy as a whole.”

As previously reported, in parallel to pension management, INDEXO has been actively working on a new commercial bank project and at the end of last year filed for a banking license. INDEXO is also working on the new banks’ product portfolio, development of its IT systems and risk management models as well as other matters related to the operations of the would-be bank.

Disclaimer: Bank (credit institution) license is subject to authorization granted by the European Central Bank based on the Bank of Latvia proposal.

About INDEXO

INDEXO is an asset management company licensed by the Bank of Latvia, which offers modern 2nd and 3rd pillar pension saving plans in Latvia. INDEXO is the fastest growing pension management company in Latvia with more than 110 thousand customers and more than EUR 710 million in assets under management.

INDEXO was established in 2017 by a group of 30 experienced business representatives and managers with an aim to fight for a better financial environment in Latvia. INDEXO vision is to become a financial services group, offering modern and customized services that empower Latvian people to take care of their financial wellbeing.

More information available at www.indexo.lv

About Nets

Believing in simplicity and security as the foundation for growth and progress, Nets powers payment solutions for an easier tomorrow for banks, businesses and consumers across Europe. Nets is a part of Nexi Group - a leading European PayTech.

For more information please see: www.nexigroup.com

Contact details:
Ieva Margeviča
IPAS “Indexo”
Board Member, Marketing Manager
E-mail: ieva.margevica@indexo.lv
Telephone: + 371 28 636 789