TSYS will integrate the contact centers and customer-servicing operations of several subsidiary companies into a single line of business, which emphasizes the company's renewed strategies for service-oriented growth opportunities in the financial industry.
TSYS Managed Services, as the consolidated line of business will be known, will expand beyond payments-oriented support to include a broader range of back-office, cross-selling and up-selling services for financial institutions. The line of business also improves economies of scale and increases the overall scope of services that are available to financial institutions through TSYS contact centers. The integration is expected to be complete by year-end.
The total servicing market opportunity among card-issuing financial institutions is worth more than $12.7 billion, and about $1.4 billion for merchant-acquiring institutions, according to published industry projections.
"It is an exciting day at TSYS as we continue to grow our business and align resources to support this strategy," says M. Troy Woods, president and chief operating officer of TSYS. "As we consolidate and expand the breadth of these services under one unit, we hope to individually increase the enthusiasm and strength of each service line."
The new line of business comprises the contact-center operations of Vital Processing Services, ESC Loyalty, TSYS Prepaid, TSYS Europe and TSYS Business Process Management. David Figgat, a veteran contact-center leader, has been named group executive of TSYS Managed Services, reporting to William A. Pruett, senior executive vice president for client services at TSYS. Mr. Figgat was previously the executive vice president of merchant services at Vital.
"TSYS Managed Services has several simple goals," Mr. Figgat says. "We will continue to build economies of scale by matching our clients with the most appropriate servicing arrangement in any global region. And we will oversee the quality, performance and compliance of those service centers on the client's behalf."
The integration of TSYS Managed Services impacts more than 1,200 customer-service agents in five contact centers located in Tempe, Ariz.; Columbus, Ga.; Alpharetta, Ga.; New York; and Barneveld, The Netherlands.