AUSTRIACARD HOLDINGS AG: Undertakes the emblematic project of digitizing the Single Pension Fund's (e-EFKA) insurance paper archive in Greece

AUSTRIACARD HOLDINGS AG (ACAG), one of Europe's leading B2B providers of secure digital technology services, smart cards, personalization and payment solutions, as well as highly secure data management and digitization solutions, following a project award tender, has signed a framework agreement for the digitization of e-EFKA insurance history.

This is an emblematic project that marks the digital transformation of e-EFKA and the first major digitization project, in which Machine Learning and Artificial Intelligence technologies will play a key role for faster and successful execution of the project. Regarding the implementation, the project as a whole includes the scanning of more than 42 million pages (42,708,333 pages) of e-EFKA paper file, the processing of the scanned documents with the aim of improving their quality and their validation with metadata. For the implementation of the project, innovative technologies, Intelligent Document Processing (IDP) based on Machine Learning and Artificial Intelligence algorithms will be used, for the automated data extraction from the digitized material, as well as the validity of the automatically identified data.

Mr. Manolis Kontos, Deputy CEO of AUSTRIACARD HOLDINGS AG Group said: "The emblematic project of digitizing the historical insurance file of e-EFKA is a key milestone for the digital transformation of the country's largest Insurance Agency. Undoubtedly, the completion of the digitization of the entire e-EFKA file and the digitization of the insurance history of thousands of insured citizens is very important for the Organization's history. We are particularly proud to contribute to this change for the transformation of e-EFKA into a modern, flexible, insured-friendly Insurance Company. Although it is a very challenging project, we have the equivalent experience, know-how and advanced technologies to implement it successfully."

Mr. Dimitris Kontinos, Chief Technology Officer & Head of Digital Public sector of AUSTRIACARD HOLDINGS AG Group added: "This project is a priority for EFKA, as it is directly related to the acceleration of pension distributions, and the digitization and inclusion of the stamps in the electronic system, which was the main reason of delays until now. By reducing bureaucratic processes and eliminating people frustration, we are particularly happy that this important project will significantly contribute to the creation of a citizen-friendly body adapted to the demands of the modern era."

ABOUT AUSTRIACARD HOLDINGS AG

AUSTRIACARD HOLDINGS AG, headquartered in Vienna, with an international presence and one of the leading providers of Secure Digital Technology Solutions in Europe.

AUSTRIACARD HOLDINGS AG is the one of the leading B2B providers of smart cards, personalization and payment solutions, as well as secure data management and digitalization solutions, in Austria, Scandinavia, Central and Eastern Europe and South Eastern Europe, while also having significant market share in many other European countries and Türkiye. The Group is expanding fast in geographical areas outside Europe, such as the USA where it has established a new personalization center, and the Middle East & Africa where sales units have been developed that have already drawn significant new business. In addition, the Company has become a payment products and solutions partner of choice for Challenger Banks/Neo Banks, a growing market segment world-wide.

The Company has a very strong pan-European operational footprint, reaching from the United Kingdom to Greece and Türkiye, with seven production facilities and seven personalization centers in Europe, as well as an additional personalization center in USA, employing currently around 2,600 people. It also has sales offices in Norway, Czech Republic, Germany, Croatia, Serbia, Jordan, the UAE and a network of partners and selling agencies around the world. This footprint enables the provision of a high service level to our customers, confirmed by the very long-lasting business relationships. The Group’s international customer base benefits from a complementary product and services and solutions offering ranging from bill printing, direct mailing and document processing to payment, transit and ID cards increasingly bundled with online, mobile and digitalization transformation solutions.

Contact person:  Theoni Dimopoulou, Group Corporate Communications & Marketing Manager
Tel.:  +30 210 66 97842
E-Mail:  t.dimopoulou@austriacard.com
Website:  www.austriacard.com
Symbol:  ACAG
ISIN:  AT0000A325L0
Stock Exchanges:  Vienna Prime Market, Athens Main Market