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 GBP 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
straight years. For more information, contact news@tsys.com.
