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MONETA Money Bank: Transforming Cards with a SaaS Solution

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16 March 2022

Winner of Celent Model Bank 2022 Award for Retail Payments Transformation

Abstract

MONETA Money Bank replaced a complex and costly arrangement for credit and debit card management to increase efficiency, to reduce expenses and dependency on multiple vendors, and to advance its digital transformation. The previous in-house solution had become increasingly expensive to operate and maintain due to high fixed costs, regulatory compliance, and processing and related services costs. The system was restricting MONETA’s forward-looking strategy to position itself as the leading digital bank in the Czech Republic. The shift towards an outsourced SaaS approach with one single vendor - Fiserv's FirstVision - reduced costs by 30% and triggered visible digital transformation.

MONETA’s initiative demonstrates how the right partners and meticulous execution can help deliver successful digital transformation. It is a deserving winner of Celent’s Model Bank 2022 award for Retail Payments Transformation.