First Data International, a global leader in electronic commerce and payment solutions, has reached agreement with Experian, a global information solutions company, to transfer its processing services from Experian UK's Management Systems Division to First Data.
Under the new contract, First Data will provide a managed service to Experian for cards, loans and collections processing to support its UK clients.
In April 2006, Experian announced it would withdraw from large scale UK account processing and close its Nottingham-based Management Systems Division. Since then the company has reviewed its strategy to ensure the best possible solution for its clients and staff. The agreement with First Data provides continuity of service for Experian's clients, with the existing staff and technology infrastructure remaining in place.
"First Data has the scale and resources to provide our clients with a continued high level of service through the duration of their current contracts while also offering them the opportunity for an orderly transition to new service agreements in future," said Tiku Patel, Managing Director, Experian UK and Ireland, "We are confident that this agreement is in the best interests of our clients and our staff whose skills are closely aligned with First Data requirements."
Experian currently uses First Data's VisionPLUS software under licence from First Data. Experian manages a portfolio of approximately eight million credit card accounts and three million consumer loan accounts, using three processing platforms. Over time, First Data will provide opportunities for clients to transfer to the First Data VisionPLUS platform and benefit from the full range of associated operational and value-added services.
David Yates, President, Europe, Middle East and Africa, First Data International, said: "We are delighted to reach this agreement to deliver processing services in support of Experian's clients, several of whom are already First Data clients. We look forward to ensuring continuity of service at the highest levels and to extending and deepening our relationships with these organisations over time."
Under the agreement, approximately 150 staff from Experian's Management Systems Division transfer er employment to First Data. These staff will continue to deliver processing services in support of current contracts with Experian clients. David Yates commented: "The staff joining First Data from Experian are a skilled and valuable resource and many of them have good knowledge of VisionPLUS. We welcome them into the company and look forward to working closely with them."