Security of supply measures aim at maintaining the functions vital to society as close to normal as possible during disruptions and in emergency conditions. As part of security of supply, uninterrupted payment processing secures the movement of payments essential to society’s ability to function and to the livelihood of citizens.
“The significance of security of supply has grown as global uncertainty and data security risks have increased, and we at OP have invested considerably in the development of functions critical to security of supply. Being selected as the state’s Bank for Security of Supply shows that we have succeeded on our part in bearing responsibility for safeguarding the continuity of payment transactions vital to society. OP is considered a stable and very trustworthy actor also in emergency conditions,” summarises Katja Keitaanniemi, President and CEO of OP Corporate Bank.
From the perspective of security of supply, critical payment transactions include recurring payments, such as wages and salaries and benefits. A requirement for the Bank for Security of Supply is the ability to provide payment services using systems located in Finland.
“The exceptional situation brought on by the corona pandemic has only emphasised the significance of security of supply in society. We are proud that OP has been selected as the only bank in Finland capable of securing the state’s payment transactions and that we can contribute to the preparedness for exceptional situations even more in future,” concludes Keitaanniemi.