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Banking industry

TSYS Signs Multi-Year Contract with First Hawaiian Bank for Commercial, Debit, and Cardholder Processing Services

Strategic Insights

— 1 min read

TSYS, a leading credit, debit, commercial, and private-label card processing company, has announced a significant contract with First Hawaiian Bank, one of the largest banks in Hawaii, to provide commercial, debit, and cardholder processing services. The multi-year contract marks a significant milestone for TSYS, further solidifying its position as a leading player in the card processing industry.

Key Takeaways:

  • TSYS will provide commercial, debit, and cardholder processing services to First Hawaiian Bank, one of the largest banks in Hawaii, for a multi-year period.
  • The contract marks a significant milestone for TSYS, further solidifying its position as a leading player in the card processing industry.
  • First Hawaiian Bank will convert from its in-house processing system to TSYS' state-of-the-art Year 2000 compliant TS2 Cardholder System, which is the complete rewrite of TSYS' Cardholder System.
  • TS2 is capable of exceptional levels of service and performance, making it the preferred choice for some of the industry's largest and most respected issuers.
  • TSYS President Philip W. Tomlinson expressed confidence in the company's ability to meet First Hawaiian Bank's unique processing requirements, citing its "can-do attitude" and superior systems.
  • First Hawaiian Bank Senior Vice President Ed Pei praised TSYS' ability to bring new programs to the market quickly and the flexibility of TS2, which will enable the bank to compete more effectively with larger issuers.
  • First Hawaiian, Inc., the bank's parent company, has assets of $8.1 billion and is the oldest bank in Hawaii, founded in 1858.
  • TSYS is an 80.7 percent owned subsidiary of Synovus Financial Corp. and serves card-issuing institutions throughout the United States, Puerto Rico, Canada, and Mexico.
  • TSYS enables card-issuing institutions to profitably compete and better serve their customers through its world-class people, technology, and service.

Statistics:

  • TSYS serves over 92 million cardholders.
  • TSYS is one of the world's largest credit, debit, commercial, and private-label card processing companies.
  • First Hawaiian Bank is the oldest bank in Hawaii, founded in 1858.
  • First Hawaiian, Inc. has assets of $8.1 billion.
  • Synovus Financial Corp. is the majority shareholder of TSYS, owning 80.7 percent of the company.

Sources:

  • Total System Services, Inc.
  • First Hawaiian Bank
  • First Hawaiian, Inc.
  • Synovus Financial Corp.
  • NASDAQ: FHWN
  • NYSE: TSS
  • NYSE: SNV

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