First National Bank of Omaha and American Express today announced a new card-issuing partnership, whereby First National Bank will issue American Express-branded cards on the American Express merchant network.
First National Bank expects to begin issuing the new cards during the first half of 2011.
"Our new card-issuing partnership with American Express will help us significantly broaden our cobrand opportunities, particularly in the premium segment," said Stephen Eulie, President, First National Credit Card Center. "With American Express' vast knowledge and expertise in delivering differentiated products and services, we will be able to deliver exciting new benefits, services and product offerings that will appeal to our mass-affluent customer segments."
"We are excited about our new relationship with First National Bank of Omaha, and we are looking forward to helping them target new customers and cobrand partners with a compelling new product range," said William Stredwick, Senior Vice President and Head of North America, American Express Global Network Services. "First National Bank is a highly respected financial services institution, and we are confident that we can add tremendous value to First National Bank's product portfolio as it further deepens its penetration into the premium segment."
Under the terms of the agreement, First National Bank of Omaha will issue the cards, manage customer relationships and be responsible for all marketing, billing, charge authorizations and credit management. American Express will process the transactions through its merchant network, and the cards will be welcomed at millions of locations worldwide.