FIS (NYSE: FIS), a global leader in financial technology services and solutions, today announced that it has been selected by ME Bank, a direct bank based in Australia, as its new cards platform provider.
Created in 1994 by a group of industry funds to help everyday Australians realize the dream of homeownership, ME Bank is investing in its cards business as a key driver of its future growth strategy. The bank launched its first credit card, a low-rate card called Frank, in 2016.
Under the new agreement, FIS will provide the bank with a modern platform for credit and debit cards, including card creation, processing, and billing. FIS will work with ME Bank on a suite of new credit card products and expects to migrate more than 300,000 existing ME customers to the new platform in the latter half of 2018.
“FIS’ cards platform will give us new credit and debit payment capabilities and enable us to launch new products to grow our business while staying current with regulatory and compliance requirements,” said Jamie McPhee, CEO of ME Bank. “FIS’ managed service approach and its maturity in the Asia pacific region were crucial to us when considering a new provider.”
“We are thrilled to welcome ME Bank as a new card client,” said Raja Gopalakrishnan, Head of International Markets for FIS. “We look forward to helping the bank build its card business and provide superior services to its cardholders through a state-of-the-art technology platform.”