Cerdo, the Swedish banking and finance company, has opted to nearshore its savings and payments services unit, outsourcing these responsibilities to Tieto, based in Finland.

“Cerdo has been a pioneer in the Swedish financial industry when establishing integrated BPO services as a commercial product,” said Vahid Zohali, Tieto’s vice president of banking. “However, Tieto has the size and market penetration capabilities to grow and further develop the concept to a wider market, and address new service areas.”

Up to 30 Cerdo employees may be TUPE’d to Tieto as part of the deal.

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