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TSYS (R) NEWS RELEASE
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For Immediate Release
Contacts: Kimberly Knight Virginia Holman
Senior Corporate Communications Specialist Marketing Director
(706) 644-1218 (706) 649-4695
[email protected] [email protected]
TSYS(R) Signs The Royal Bank of Scotland Group
Synopsis: TSYS finalizes 10-year card processing agreement with The Royal Bank
of Scotland Group.
Columbus, Ga., Aug. 9, 2000 - Total System Services, Inc.(R)(TSYS(R))
(NYSE: "TSS"), today announced the signing of a 10-year agreement with
The Royal Bank of Scotland Group plc ("Royal Bank Group"), to process its 7
million consumer and commercial card accounts.
President Philip W. Tomlinson said, "TSYS is delighted that the Royal
Bank Group, a preeminent European bank and market leader, has entrusted its
business to us and that we were able to reach a definitive agreement within two
months after signing the letter of intent."
Bruce Bacon, Managing Director of TSYS Europe said, "We look forward to
a long and productive relationship with the Royal Bank of Scotland Group. TSYS
is dedicated to providing superior systems and services to RBS and to others in
Europe."
The Royal Bank Group is the second-largest credit card issuer in the
United Kingdom with one of the fastest growing card portfolios in all of Europe.
TSYS will provide complete processing services for The Royal Bank of Scotland,
NatWest, Ulster Bank and Coutts portfolios, all of which are part of the Royal
Bank of Scotland Group. The Royal Bank Group chose TSYS for its outstanding
customer service and leading-edge processing systems which provide optimum
flexibility, superior portfolio management and speed to market.
"Total System Services' commitment to customer service and innovative
processing solutions makes them the obvious choice for us. It is very important
for us to obtain adaptable systems so that we may expand our market share. TS2
delivers this to us in a state-of-the-art system that will allow us to provide
our cardholders with the highest standards of customer service, " said Stephen
Brannan, Managing Director, Card Business, Royal Bank of Scotland Group. "Our
progress with TSYS over the past several months has been outstanding. The Royal
Bank Group continues to maintain high enthusiasm for the functionality richness
TSYS will deliver, thus enabling us to expand our position as an innovative
leader in the cards business, " added Brannan.
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TSYS(R)Signs The Royal Bank of Scotland Group/p. 2
About Card Growth in Europe
Card usage and credit are projected to grow significantly in Europe.
Credit cards account for 29 percent of all cards in Europe. The European Card
Review reported that credit card growth was up 8.3 percent in 1999. Transaction
volumes are growing at approximately 20 percent per year, according to Payment
Cards in Europe 1999.
About The Royal Bank of Scotland Group
The Royal Bank of Scotland Group, founded in 1727, is one of Europe's
leading financial services companies, and one of the largest banks in the UK,
operating and throughout the world. In March 2000 it acquired National
Westminster Bank plc, creating an enlarged group which ranks first in the UK in
corporate banking, private banking, offshore banking, and private motor
insurance, and second in retail banking. The enlarged group has more than 2,000
branches throughout the UK and Ireland, and serves more than 15 million
customers.
About Total System Services, Inc.
TSYS provides global commerce solutions. With more than 181 million
accounts on file, TSYS facilitates the payment exchange between buyers and
sellers. TSYS and its family of companies offer a full range of acquiring and
issuing business services from credit application to collections for credit,
debit, commercial, stored value and retail accounts. TSYS' Europeanized TS2(R)
Processing System, the most technologically advanced transaction processing
software built in the 1990's, has been adapted to accommodate the unique
requirements for the market. Based in Columbus, Ga., TSYS (NYSE: "TSS")
(www.totalsystem.com) is an 80.8 percent-owned subsidiary of Synovus Financial
Corp. (NYSE: "SNV") (www.synovus.com), No. 5 on FORTUNE magazine's list of "The
100 Best Companies To Work For" in 2000. For more information, contact
[email protected].
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