TSYS to Process Rabobank's Consumer-Credit Portfolio
Columbus, GA, and York, England, Nov. 28, 2006 - TSYS, one of the world’s largest payment-services companies, today announced it has entered an agreement with the No. 1 card issuer in The Netherlands, Rabobank, to process its consumer-credit portfolio.
The multi-stage conversion of Rabobank’s 1-million-plus accounts to the TS2 platform is scheduled to conclude in the second quarter of 2007. Once complete, TSYS will be the leading credit-card processor in The Netherlands.
“Rabobank’s reputation in the Dutch market makes this the type of alliance we are most interested in cultivating,” says Kelley C. Knutson, managing director for TSYS Europe. “Our shared community- and service-oriented philosophies translate to a strong relationship that will result in excellent service for Rabobank’s customers.”
Today Rabobank is owned by 218 local banks which provide financial services and products to the Dutch retail and business markets. In its Dutch home market, Rabobank Group has approximately 1.5 million members, 9 million business and private customers and is market leader in virtually every area of financial services. Outside the Netherlands, the Group has 289 offices in 38 countries. Rabobank is consistently awarded a AAA credit rating from the leading rating agencies.
Under the agreement, TSYS also will support the newly introduced credit card that features climate compensation. Launched in September in cooperation with the World Wildlife Fund for Nature, the high-profile card has been lauded as an example of corporate responsibility. Rabobank will compensate the World Wildlife Fund for CO2 emissions connected with purchases that members make using this credit card.
“We are pleased that TSYS shares our enthusiasm for such a progressive loyalty programme,” says Jos van Lange, senior executive vice president for consumer banking at Rabobank. “We have every confidence that this is a processing partner whose experience in global markets and enterprising technology means long-term success for this card as well as the relationship as a whole.”
About Rabobank
Rabobank Group is a financial-services provider operating on the basis of cooperative principles, while offering an extensive range of financial services and products. The Rabobank Group comprises 218 independent local cooperative banks in The Netherlands, plus their central organisation, Rabobank Nederland, and its domestic and international subsidiaries. Rabobank serves more than 9 million private individuals and corporate clients in The Netherlands and a growing number abroad. It employs more than 50,000 staff and is represented in 38 countries. For more information, see www.rabobank.com.
About TSYS
TSYS is one of the world’s largest payment-services companies, offering a broad range of packaged or outsourced issuing and acquiring technologies that support consumer finance, credit, debit and prepaid services for financial institutions and retail companies worldwide. Based in Columbus, Ga., TSYS (NYSE: TSS) is 80-percent held by Synovus (NYSE: SNV), one of FORTUNE magazine’s “Most Admired Companies” and a member of its “100 Best Companies to Work For” Hall of Fame. For more information, contact news@tsys.com.
Contacts
TSYS
Eric S. Bruner
+1.706.644.8457
ebruner@tsys.com
TSYS
Cyle Mims
+1.706.644.3110
cylemims@tsys.com