Alliance Data Selects Fiserv for Credit Processing Services
- Strategic agreement reflects Alliance Data’s continued focus on tech modernization, delivering enhanced payment and servicing capabilities and continued efficiencies
- Migration to industry-leading processing platform will enable faster speed-to-market for new products, credit program launches and portfolio conversions
Alliance Data Systems Corporation (NYSE: ADS), a leading provider of data-driven marketing, loyalty and payment solutions, today announced that its Card Services business, a premier provider of branded private label, co-brand and commercial card programs, has signed an agreement to transition credit card processing services to Fiserv (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions.
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“The strategic partnership announced today reflects our commitment to invest in competitive technology and provide greater value and service to our brand partners and their customers,” said Ralph Andretta, president and chief executive officer, Alliance Data. “Our robust suite of payment products, industry-leading data and analytics capabilities and turnkey credit marketing services, combined with a modern, flexible and scalable platform from Fiserv, will allow Alliance Data to achieve greater agility and speed-to-market for a variety of new, innovative products and solutions.”
“We are honored to support Alliance Data, a premier payment solutions provider, as they make this important strategic move as part of their broader technology modernization initiatives,” said Frank Bisignano, president and chief executive officer, Fiserv.
Among other benefits, the increased flexibility and nimbleness of the platform allows Alliance Data to seamlessly integrate a variety of additional payment products in the future. The anticipated cost savings associated with improved platform efficiencies will be allocated to areas that support the Company’s broader transformation efforts, including investing in new digital capabilities and enhancements.
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“By leveraging the resiliency, scalability and operational efficiencies gained through the Fiserv relationship, we are able to provide new, more compelling tools for our brand partners and their customers,” said Nick Barnes, chief information officer, Alliance Data. “As part of broader technology modernization efforts, this partnership allows us to be more nimble, manage risk more effectively and leverage efficiencies gained to focus on the strategic aspects of our business.”
“Our unmatched processing capabilities, state of the art cardholder solutions and commitment to continuous innovation will enable Alliance Data to transform experiences for their brand partners and customers,” said Andrew Gelb, head of Issuer Solutions, Fiserv. “We are proud to add them as a client.”
For additional information about Alliance Data’s strategic plans, join the Company’s Q3 2020 earnings conference call on Oct. 29, 2020, at 8:30 a.m. ET.
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