Nationwide has signed an agreement with US-based payments processor TSYS, to handle its credit card account portfolio and to build, operate and manage a new customer care centre for member support services.
The deal will make Nationwide, now the world’s largest building society, one of TSYS’ largest clients.
The contract,which will service more than one million Visa accounts, will come into effect in the first quarter of 2008. TSYS has already begun construction of a customer care centre in Coventry, which is expected to reach an eventual capacity of 300 agents.
Alex Bannister, head of banking and credit cards at Nationwide said, “By joining forces with TSYS we are able to offer enhanced products and processes while providing greater member value through annual cost savings.”
Nationwide recently completed its merger with the Portman Building Society and now has assets of more than £100bn and 13 million members.
Terms of the deal were not disclosed.
In May Nationwide extended its deal with Unisys for five eyars as part of a plan to overhaul its IT infrastructure with new mainframes.The new support and maintenance contract that is expected to provide a 25% increase in processing power.