TSYS announced a partnership with Integrated Solutions Concepts, Inc., a wholly owned subsidiary of Visa U.S.A., that will allow Visa’s issuing Member financial institutions to reap the benefits of ISC’s AdvanceBK, a superior bankruptcy scoring model that has been fully integrated into TSYS’ TS2Â®, the industry’s leading processing system. This partnership enhances TSYS’ strategy of growing its core business by providing issuers with a proactive risk management opportunity to increase their revenues and reduce losses.
AdvanceBK is a sophisticated risk management tool which helps Visa issuers reduce their bankruptcy losses through the early identification of high-risk accounts; recognize the greatest number of potential bankruptcies; and take fast and appropriate preventive account management action to reduce loss exposure, minimize consumer credit delinquency and proactively deal with high-risk accounts. ISC, TSYS and Visa U.S.A. will jointly market the solution to TSYS customers who are Visa issuers.
According to CardFlash Online, the number of bankruptcies filed in the first quarter of 2001 showed a significant rise in consumer filings, increasing by 17.5 percent over the same period a year ago.
‘With this partnership, we are able to provide our mutual clients with a world-class risk management tool to combat bankruptcies. With bankruptcies on the rise, it was imperative for TSYS to implement a top-notch solution to help resolve this problem. We are pleased to provide our Visa issuers with a bankruptcy tool that is fully integrated into our TS2 account management system which will allow them to make critical account decisions with more confidence,’ said Andy Marks, group executive, TSYS Value Added Products
‘We are pleased to be partnering with TSYS to provide superior solutions to our issuing Member financial institutions, said Jean Bruesewitz, senior vice president, Advanced Risk Solutions, Visa U.S.A. ‘Thanks to the support of TSYS and its TS2 processing system, we are able to enhance AdvanceBK and offer our issuers the ability to make better risk decisions.’
. With four times the data of traditional legacy systems, TSYS’ TS2 provides the architecture to move and manage massive volumes of data and present information in a way that gives TSYS clients a superior advantage in the marketplace and their customers unparalleled access, service and convenience. TS2 provides abundant information; ensures system availability; increases speed-to-market; supports efficient system integration; optimizes the workforce; improves customer care; facilitates continuous improvement; functions in the global marketplace; and responds quickly to change.
TSYS brings integrity and innovation to the world of electronic payments. TSYS serves as the integral link between buyers and sellers in the rapidly evolving universe of electronic payments. With more than 200 million accounts on file, TSYS makes it possible for millions of consumers to use their credit, debit, stored value, commercial, chip and retail cards anytime, anywhere through any medium or portal. TSYS and its family of companies offer a full range of acquiring and issuing services from accepting electronic payments for goods and services, to credit applications, collections and bankruptcy. Based in Columbus, Ga., TSYS (NYSE: ‘TSS’) ([www.tsys.com]) processes for 23 countries in 14 currencies and four languages and maintains operations in Canada, Mexico, Japan and the United Kingdom. TSYS is an 80.8 percent-owned subsidiary of Synovus Financial Corp. (NYSE: ‘SNV’) ([www.synovus.com]), No. 8 on FORTUNE magazine’s list of ‘The 100 Best Companies To Work For’ in 2001. For more information, contact firstname.lastname@example.org.