TSYS® Signs Subsidiary of Leading Canadian Bank
TSYS to Help CIBC Reach Retail Goals
Columbus, Ga., March 20, 2001 - TSYS® (NYSE: "TSS") today announced a five-year agreement with Amicus FSB, a subsidiary of Canadian Imperial Bank of Commerce (CIBC) and a part of the Amicus division of CIBC, to process a new Visa consumer credit card it will issue. This agreement broadens a relationship TSYS and CIBC have shared since 1994 when TSYS began processing CIBC's commercial credit cards. Furthermore, the agreement supports TSYS' three-year strategic plan to extend its core processing business.
Amicus partners with leading brand retailers to provide electronic financial services, including Marketplace Bank, Safeway SELECT Bank and Yahoo! PayDirect in the U.S. and President’s Choice Financial in Canada. Amicus has 547,000 e-banking customers and is acquiring approximately 30,000 more each month.
Under the agreement, TSYS will provide a complete range of services to include processing on its TS2 platform; various elements of customer contact; and remittance processing through Synovus Financial Corp.®
"TSYS offers the full range of services needed to help us aggressively enter new markets," said Amicus spokesperson, Robert Almeida. "The retail market requires a tremendous amount of flexibility for changes and promotions to be offered on demand. TS2 allows us the freedom to adapt our products to this market. The partnership with TSYS will allow us to deliver the value and convenience of one-stop shopping to our customers that has become so important in their busy lives."
"TSYS has a strong track record of helping financial institutions and retailers prosper. The expertise we bring to Amicus will enable them to pursue new retail relationships and launch new credit card programs quickly," said TSYS President, Philip W. Tomlinson.
About Amicus FSB
Amicus FSB is wholly owned subsidiary of CIBC and is part of the Amicus division of CIBC. Amicus FSB is headquartered in Cicero, IL, with branch offices in Fairfield, CA and Maitland, FL. CIBC is a leading North American financial institution offering more than eight million personal banking and business customers a full range of products and services through its comprehensive electronic banking network, branches and offices across Canada, in the United States and around the world. CIBC is a leader in electronic banking, with more than three million e-banking customers accessing telephone and Internet banking, and brings extensive e-banking experience and capability to the U.S. market.
About TSYS:
TSYS brings integrity and innovation to the world of electronic payments. TSYS serves as the integral link between buyers and sellers in the rapidly evolving universe of electronic payments. With nearly 200 million accounts on file, TSYS makes it possible for millions of consumers to use their credit, debit, stored value, commercial, chip and retail cards anytime, anywhere through any medium or portal. TSYS and its family of companies offer a full range of acquiring and issuing services from accepting electronic payments for goods and services, to credit applications and collections. Based in Columbus, Ga., TSYS (NYSE: "TSS") (www.tsys.com) processes for clients in 21 countries, in 11 currencies, in three languages and maintains operations in Canada, Mexico, Japan and the United Kingdom. TSYS is an 80.8 percent-owned subsidiary of Synovus Financial Corp. (NYSE: "SNV") (www.synovus.com), No. 8 on FORTUNE magazine’s list of "The 100 Best Companies To Work For" in 2001. For more information, contact news@tsys.com.
Contacts:
Kimberly Knight
Senior Corporate Communications Specialist
ph. (706) 644-1218
kiknight@tsys.com
Leo S. Berard
Investor Relations Manager
ph. (706) 649-5220
leoberard@synovus.com