TSYS Expands into Continental Europe as ABN AMRO's Processing Partner
Agreement Includes Managing Customer Care Services
York, England, and Barneveld, Netherlands, March 17, 2005 - In its first processing agreement with a card issuer based in continental Europe, TSYS announced a seven-year agreement to process the Dutch consumer and commercial credit-card portfolios of ABN AMRO Bank N.V. ("ABN AMRO"). ABN AMRO is the largest banking group in The Netherlands, and the 20th-largest financial institution in the world.
"ABN AMRO's decision to partner with TSYS is a tremendous opportunity for us and represents the achievement of a strategic goal," says Kelley Knutson, managing director for TSYS Europe. "We are committed to the European market, and have built our platform and services to provide clients like ABN AMRO with the most technologically advanced pan-European solution."
All of ABN AMRO's Dutch accounts will be converted to TS2®, the multi-currency and EMV-compliant processing system from TSYS that supports more than 20 million accounts in Europe. Conversions are tentatively planned for the first and second quarters of 2005. ABN AMRO's portfolio will be processed at the new TSYS European Data Center in Knaresborough, England.
Additionally, TSYS will provide customer care services on behalf of ABN AMRO by managing a customer contact center in The Netherlands. The center will support full end-to-end customer service, including general customer service queries, application processing, chargebacks and dispute handling, fraud and collections. The TSYS Operational Services Center is located in Barneveld and opened earlier this month.
About ABN AMRO
Netherlands-based ABN AMRO is a leading international bank with total assets of €608.6 billion (as of 31 December 2004). It has over 3,000 branches in more than 60 countries and territories, and has a staff of about 100,000 full-time equivalents worldwide. ABN AMRO is listed on the Euronext and New York stock exchanges.
About TSYS
TSYS (NYSE: TSS) brings integrity and innovation to the world of electronic payment services as the integral link between buyers and sellers in this rapidly evolving universe. Synovus (NYSE: SNV) owns an 81-percent interest in TSYS. For more information, contact news@tsys.com See TSYS on the web at www.tsys.com.
Contacts
Cyle Mims
TSYS Media Relations
+1.706.644.3110
cylemims@tsys.com
Shawn Roberts
TSYS Investor Relations
+1.706.644.6081
shawnroberts@tsys.com