Bank One is to migrate its credit card processing to a TSYS platform when its current outsourcing contract with First Data expires next year.
The bank, which serves 50 million card members who spend more than $155 billion annually, says it will shift its credit-card processing to the TS2 platform in mid-2004, eventually migrating the processing inhouse under license two years later.
Jamie Dimon, Bank One chairman and CEO says the repatriation of processing will enable the bank to introduce innovations faster and deliver more personalised services to customer.
"The phase-in allows us to license the software, control this core function and plan a seamless transition for customers," he says.
First Data confirmed the bank's decision, but declined to put a value on the lost business.