Go BackNationwide signs major outsourcing deal with Tsys
TSYS has signed a long-term agreement with Nationwide, the worlds largest Building Society, to process Nationwide's credit card account portfolio and to build, operate and manage a new customer care centre for member support services. Based on the scope of services, Nationwide would rank among TSYS' largest clients.
Servicing of Nationwide's more than 1 million credit card Visa accounts and operation of a customer care centre for Nationwide is planned for the first quarter of 2008. The customer care centre, which is expected to reach an eventual capacity of 300 agents, is under construction in Coventry.
"Nationwide places great importance on finding new ways to further improve the service we can provide to our customers," says Alex Bannister, head of banking and credit cards at Nationwide. "By joining forces with TSYS we are able to offer enhanced products and processes while providing greater member value through annual cost savings."
"Nationwide has reported strong growth in its credit card portfolio in recent months, and TSYS is pleased to be chosen as the technology and business partner to support those important member relationships," said Kelley Knutson, group executive of global services for TSYS. "TSYS has enjoyed similar relationships with some of the largest member-owned credit unions in the United States for many years, and we understand the critical distinctions that engender such strong loyalty from their members."
Since the Building Society was established in 1846, Nationwide has grown to its present size of more than £100 billion in assets through more than 100 mergers, most notably the merger between Nationwide and Anglia building societies in 1987 and between Nationwide and Portman in 2007. Nationwide is the largest building society in the world, the UK's second largest mortgage lender and second largest savings provider, serving around 13 million members.
Terms of the agreement were not disclosed.
About TSYS
TSYS (www.tsys.com) is one of the world's largest companies for outsourced payment services, offering a broad range of issuer- and acquirer-processing technologies that support consumer-finance, credit, debit and prepaid services for financial institutions and retail companies in the Americas, EMEA and Asia-Pacific regions. Based in Columbus, Ga., TSYS (NYSE: TSS) is closely held by Synovus Financial Corp. (NYSE: SNV), one of FORTUNE magazine's "Most Admired Companies" and a member of its "100 Best Companies to Work For" for 10 consecutive years. For more information, contact news@tsys.com.
Date - 10/09/2007
