Unisys Corporation (NYSE:UIS) today announced that Rabobank, the largest financial services provider in the Dutch market, has extended its existing business process outsourcing contract with Unisys Payment Services and Solutions (UPSS) for all paper-related payment transactions for two additional years through December 31, 2010.
UPSS, a subsidiary of Unisys, provides a variety of document services in a business process outsourcing utility for a number of leading financial services organizations in the Netherlands including Rabobank, Fortis, ABN Amro and other banks.
"Unisys has proven to have both the business knowledge and technology to help us improve our document services processing," says Mrs. T.I. Bommel-Scheffer, Manager Giro Payments at Rabobank. "The benefits of the shared utility gives us the required scale for added efficiencies. UPSS also invests in new technology and process optimization which gives us a cost-effective way to stay ahead in managing our payments."
UPSS automates giro (paper-based, check-like payments) processing and money transfer forms. UPSS now processes over 120 million paper-based payment transactions a year and has a market share of more than 50 percent in the Netherlands.
Rob Fopma, general manager at UPSS, is enthusiastic about the renewed contract. "By continuing to streamline UPSS processes and adding new services to help our clients achieve optimal efficiencies, we provide an added value to allow Rabobank and other financial institutions to more easily innovate and transform processes."
UPSS began in 2004 when Interpay, a utility that provides a number of shared services for leading Dutch banks, transferred its document services business unit to Unisys. In addition to document services, UPSS now also offers solutions for fraud detection and prevention, and secure printing and archiving of payment transactions.