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TSYS to provide services for KeyBank’s consumer credit card portfolio

TSYSPayment processing firm TSYS said on Thursday it signed a long-term payments agreement with KeyBank to provide services for the bank’s consumer credit card division.

“We welcome this opportunity to expand our partnership with one of the most respected regional banks in the Midwest,” Bill Pruett, the president of TSYS’ North America division, said. “This agreement strengthens our commitment to regional banks like KeyBank, as they look to grow and improve the overall experience for their customer base by providing more options to satisfy their growing needs.”

Last year, KeyBank began issuing credit cards and purchased a $725 million Key-branded credit card portfolio from Elan Financial Services. The bank chose TSYS’s TS2 platform to convert the portfolio and to issue new cards in the future.

KeyBank also chose TSYS to provide risk management and fraud protection services to clients. Last year, TSYS converted one of KeyBank’s smaller portfolio acquisitions to its TSYS Program Solutions platform, which provides a number of services, including account processing, fraud prevention, full customer support, risk management and portfolio optimization and management.

“As we move aggressively toward expanding our presence in the consumer credit card market, we need a partner who can provide us with strong card industry insight, flexibility and speed-to-market,” KeyCorp Chairman and CEO Beth Mooney said. “TSYS has already demonstrated their ability to meet our needs for a turnkey solution, and we are confident they are a good fit for KeyBank.”

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