First Data and Union Bank have announced an agreement for debit processing, ATM driving, and card fulfilment output services.
Expanding on a existing partnership with Union Bank, First Data will provide the efficiency, scale and functionality required for the USD107.2bn bank and its nearly one million cardholders while the bank continues to manage its own portfolio.
“For many years we successfully maintained debit processing in-house and now with First Data, we have a trusted partner to help us manage the increasingly complex processing program with the appropriate tools we need so we can focus on growing our business and servicing our customers,” said Maha Madain, senior vice president at Union Bank and head of Retail Deposit Products and Payments.
“In an ever-changing debit industry, many financial institutions are evaluating their systems and partners for increased efficiency while looking to maintain control of their program,” said Barry McCarthy, president, First Data Financial Services. “Acting as a consultative partner to Union Bank, First Data will deliver scale and functionality that includes upgrades for EMV, fraud management, and analytics capabilities.”
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