Itella Payment Services will become Itella Bank through a new license


On August 31, 2011, the Finnish Financial Supervisory Authority granted Itella IPS Ltd (Itella Payment Services), a subsidiary of Itella, a deposit bank license according to the Act on Credit Institutions. The license means that in addition to information and product flows, Itella Group will also be able to manage the related invoice and payment traffic more diversely than before.


Jukka Alho, President and CEO:

- Forwarding invoicing-related information has always been a core task of Itella. Now we will be able to provide more diverse services in this sector, as the new license will include us in the cooperation network of banks. "


Itella Bank will specialize in forwarding payments and invoicing information especially in online commerce, parcel services and other mail business. The starting point is to carry out extensive cooperation with commercial actors and the banking sector.  

The existing invoicing and payment traffic services of Itella IPS Ltd will remain available and they will be transferred to the offering of Itella Bank by the end of 2011. The first new banking services will be introduced during 2012. Initially, the services will be intended for companies, but consumer services will also be provided in the future.

As of January 1, 2012, Itella IPS will be called Itella Bank.


Further information:

Hannu Lanteri, CEO, Itella IPS Ltd, tel. +358 20 4516 169,