First Hawaiian Renews Relationship with TSYS
TSYS to Provide Credit-, Debit- and Commercial-card Processing
Columbus, Ga., April 7, 2004 - TSYS and First Hawaiian Bank, Hawaii's largest bank, signed an exclusive five-year card processing agreement, thus extending their relationship until 2009. Under the terms of the agreement, TSYS continues to process First Hawaiian's credit, debit and commercial portfolios. In addition First Hawaiian will continue to utilize TSYS' subsidiary ProCard, which provides technology support and services for its commercial card accounts. First Hawaiian has been a TSYS client since 1998.
"The confidence First Hawaiian Bank continues to place in us as their strategic partner is very rewarding because we are genuinely interested in their success, "said M. Troy Woods, TSYS president and chief operating officer. "First Hawaiian Bank has an excellent track record of satisfying its customers and meeting their needs with just the right products. We are delighted that we can provide a valuable service to them that allows them to strengthen their overall client relationships, and generate revenues for the banking operation."
"TSYS has best-in-class processing services, truly cares about our business and is a partner to our success, " said Curt T. Otaguro, Senior Vice President. "We look forward to leveraging the strength of their technology, particularly in the area of commercial cards."
First Hawaiian is Hawaii's largest (and only locally-based) merchant processor, handling nearly $3 billion in transactions during 2003. The bank is also the largest issuer of both Visa® and MasterCard® products in Hawaii.
TSYS enjoys an 82 percent market share in the U.S. commercial card market, and processes 100 percent of the commercial cards issued by the Federal Government's Smart Pay program. Overall, TSYS processes more than 278 million credit, debit, commercial, prepaid, smart card and retail cards for retailers and financial institutions world wide.
About First Hawaiian
First Hawaiian Bank is the largest Hawaii bank, with total assets of $9.9 billion. It is a subsidiary of BancWest Corporation (www.bancwestcorp.com), a bank holding company with total assets of $38.4 billion.
About ProCard
ProCard, a wholly owned subsidiary of TSYS, is the leading provider of technology and services for commercial card programs. Used by thousands of organizations, including nearly 20 percent of the Fortune 500, ProCard products enable companies to improve their control over commercial card expense management and reduce the overhead associated with it.
About TSYS
TSYS (NYSE: TSS) (www.tsys.com) 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 81.1-percent interest in TSYS. For more information, contact news@tsys.com.
Contacts:
Cyle Mims
TSYS Media Relations
+1.706.644.3110
cylemims@tsys.com
Pauline Akiona
First Hawaiian
+1.808.844.3186
pakiona@fhwn.com