First Data Corporation, a global leader in electronic commerce and payment processing, and Bankers' Bank of Madison, Wis., today announced that the bank has selected First Data's Star Network to provide electronic funds transfer (EFT) network services to Bankers' Bank customers. Bankers' Bank serves nearly 700 financial institutions throughout the Midwest.
Under the five-year agreement, Bankers' Bank will offer its financial institutions complete access to ATM and debit card network services through the STAR Network, one of the nation's leading EFT networks with more than two million retail and ATM locations.
"The STAR Network gives financial institutions access to innovative technology and committed support for the growth of their business. As we continue to see growth in debit transactions, we are dedicated to helping Bankers' Bank and its client banks offer options that best serve their customers' needs," said Kevin Barry, general manager, STAR Network.
"Bankers' Bank is pleased to work with STAR as our preferred EFT processor. The reach of the network throughout our market, as well as across the United States, gives our community bank partners the opportunity to provide exceptional service to their consumer and business clients. The added flexibility and simplified management of the debit card products helps our client banks focus on expanding their market, enhancing their services and supporting their customers," said Barb Gross, First Vice President - BankCards, Bankers' Bank.
Financial terms of the agreement remain confidential.