Lowell, one of the largest credit management companies in Europe, has signed a 3-year extension of its contract with Tietoevry Banking for Collection Suite Nova, the market leading end-to-end collection solution driving growth.

The new contract ensures continued use of Collection Suite Nova delivered as Software as a Service (SaaS) from Tietoevry’s private cloud. The agreement covers service in Sweden.

The transition to a SaaS model has enabled Lowell to streamline their operations and focus more on their core business. Lowell benefits from a compliant solution that enables scalability and supports business growth through this delivery. Additionally, Lowell has improved their time to market for new functionalities, client onboarding and revised offerings.

“We are happy to have a stable solution that allows us to work efficiently and serve customers better. Incidents are resolved quickly, and we are very satisfied with our experience,” says Juha Wilkman, Nordic CIO, Lowell.

As part of the SaaS agreement, Lowell is always on the latest release of Collection Suite Nova and continuously has access to all new functionalities and improvements on the platform. The debt collection solution upgrades will be done without any interruption to Lowell’s business.

“We are proud of our successful partnership with Lowell providing a solution that enhances their debt collection operations. This showcases the promise of our SaaS offering – enabling customers to focus on their core business and their own customers,” says Pär Johansson, Head of Credit and Wealth at Tietoevry Banking.