Fifth Third Bancorp Selects TSYS for Credit Processing
Columbus, GA, April 18, 2005 — Fifth Third Bancorp, one of the largest and most respected bank-holding companies in the country, has chosen TSYS® to process its Visa and MasterCard consumer-credit portfolio. TSYS has processed the Fifth Third commercial-card portfolio since 1996.
"Fifth Third is an innovative bank that is highly regarded in the industry. They understand that the power of TS2®, our industry-leading portfolio management services and the dedicated enthusiasm of the TSYS team will present greater opportunities for strategic growth," says M. Troy Woods, president and chief operating officer of TSYS. "We are very excited to extend our relationship across their card programs."
"TSYS has a proven track record for providing excellent service," says Charles Drucker, president of Fifth Third Bank Processing Solutions. "The TS2 platform will help us deliver a broad range of products with increased flexibility. The implementation of TS2 capabilities is crucial for sustainable growth and overall competitiveness. TSYS’ outstanding history of innovation and delivery will allow our customers to experience superior service that Fifth Third is accustomed to providing."
Fifth Third is scheduled to convert its consumer credit-card portfolio to the TS2 processing system in the second quarter of 2005. Fifth Third Bancorp originated with the Bank of the Ohio Valley in 1858, and is now among the 10 largest bank-holding companies in the country. It provides banking, investment and electronic payment-processing services to 6 million customers through 17 affiliates in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia and Pennsylvania. Ranked among the top-10 bank-holding companies by market capitalization, Fifth Third was named the No. 1 super-regional bank by FORTUNE magazine in 2003 and 2004.
About Fifth Third Bancorp
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio. The Company has $102.7 billion in assets, operates 17 affiliates with 1,092 full-service banking centers, including 130 Bank Mart® locations open seven days a week inside select grocery stores, and 1,988 Jeanie® ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida,
Tennessee, West Virginia and Pennsylvania. The financial strength of Fifth Third’s Ohio and Michigan banks continues to be recognized by rating agencies, with deposit ratings of AA- and Aa1 from Standard & Poor’s and Moody’s, respectively. Additionally, Fifth Third Bancorp continues to maintain among the highest short-term ratings available at A-1 and Prime-1, and is recognized by Moody’s with one of the highest senior debt ratings for any U.S. bank-holding company of Aa2. Fifth Third operates four main businesses: retail, commercial, investment advisors and Fifth Third Processing Solutions. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded through the NASDAQ® National Market System under the symbol "FITB." Member FDIC.
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 North America, Europe and the 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" Hall of Fame. For more information, contact news@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