Tesco Bank has selected Tsys to support its credit card business in the UK.
Tsys will provide full customer account management services using the TS2 processing platform.
The Tesco Bank credit card portfolio has been processed on Tsys’ TS2 platform since 2001 through The Royal Bank of Scotland Group (RBS). Tesco Bank will be transferring to its own version of the Tsys platform in the second quarter of next year.
“Tsys has the functionality to support all of our current requirements as well as the flexibility to support us with our future growth,” said Shaun Doherty, IT and operations director at Tesco Bank. “As we already use the Tsys platform for Tesco Bank credit card processing, the company has a strong knowledge of our business and understands our customer-centric approach. We also want to ensure that our migration runs smoothly and an important consideration for us was Tsys’ strong migration record.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.