TSYS today announced that Tesco Bank has selected TSYS to support its credit card business in the UK.
Tesco Bank is the UK's most successful supermarket bank with more than six million customer accounts, currently across 28 products and services. It is the sixth largest credit card provider in the UK with 2.4 million cards in circulation.
TSYS will provide Tesco Bank's credit card business with full customer account management services using the TS2(R) 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."
"TS2 is the most advanced, flexible and successful processing system in market today, providing unparalleled flexibility, unsurpassed speed-to-market and exceptionally efficient workflow management capabilities," said Bob Evans, group executive of TSYS International. "TSYS is able to offer the support that Tesco needs to grow and become a full-service retail bank while maintaining its world-class customer experience. The agreement is also a testimony to TSYS' strong position in the UK payments market, and we look forward to continuing our strong relationship with Tesco Bank."