BB&T Bankcard Corp. Signs Multiyear Card Processing Agreement With Fidelity National Information Services
September 27 2006 - 9:30AM
PR Newswire (US)
JACKSONVILLE, Fla., Sept. 27 /PRNewswire-FirstCall/ -- Fidelity
National Information Services, Inc. (NYSE:FIS), today announced
that Columbus, Ga.- based BB&T Bankcard Corporation has signed
a multiyear consumer and commercial credit card processing
agreement with FIS' Card Services division. BB&T Bankcard
Corporation is a wholly owned subsidiary of BB&T Corporation
(NYSE:BBT), Winston-Salem, N.C., and one of America's "Best Big
Companies" in Forbes Platinum 400 List. Under the terms of the
five-year agreement, FIS will process all transactions for consumer
and commercial credit cards issued by BB&T Bankcard
Corporation. "BB&T will realize significant savings from a
process improvement standpoint as a result of this agreement," said
Bud Tremblay, president and chief executive officer of BB&T
Bankcard Corporation and manager of BB&T's Bankcard and
Merchant Services division. "The products and services that FIS
brings to the table will enable us to get new products to market
faster and strengthen our relationships with our cardholders, both
of which translate to increased revenue and improved shareholder
value." Large-volume credit card processing is yet another facet of
FIS' comprehensive and scalable suite of solutions for financial
institutions, including core processing, channel solutions,
integration, outsourcing and payment solutions. "BB&T's
agreement to entrust FIS with all its credit card transaction
processing speaks volumes to the confidence BB&T has placed in
our systems and processes," said Robert Bream, president of FIS
North America Card Services. "We're confident FIS' efficiencies and
expertise in credit card processing will positively impact
BB&T's bottom line, and we're pleased to have this
opportunity." About BB&T Corporation BB&T Corporation is
the nation's ninth-largest financial holding company, with assets
of more than $116 billion. BB&T and its subsidiaries offer
full- service commercial and retail banking, as well as additional
financial services such as insurance, investments, retail
brokerage, corporate finance, treasury services, international
banking, leasing and trust. BB&T operates more than 1,400
branches in the Carolinas, Virginia, Maryland, West Virginia,
Kentucky, Tennessee, Georgia, Florida, Alabama, Indiana and
Washington, D.C. For additional information about BB&T, visit
http://www.bbt.com/. About Fidelity National Information Services
Fidelity National Information Services, Inc. (NYSE:FIS), is a
leading provider of core processing for financial institutions;
card issuer and transaction processing services; mortgage loan
processing and mortgage-related information products; and
outsourcing services to financial institutions, retailers, mortgage
lenders and real estate professionals. FIS has processing and
technology relationships with 35 of the top 50 global banks,
including nine of the top ten. Nearly 50 percent of all U.S.
residential mortgages are processed using FIS software.
Headquartered in Jacksonville, Florida, FIS maintains a strong
global presence, serving over 7,800 financial institutions in more
than 60 countries worldwide. For more information on Fidelity
National Information Services, please visit
http://www.fidelityinfoservices.com/. FIS is a majority-owned
subsidiary of Fidelity National Financial Inc. (NYSE:FNF), number
248 on the Fortune 500 and a provider of outsourced products and
services to a variety of industries. More information about FNF can
be found at http://www.fnf.com/. This press release contains
forward-looking statements that involve a number of risks and
uncertainties. Statements that are not historical facts, including
statements about our beliefs and expectations, are forward-looking
statements. Forward-looking statements are based on management's
beliefs, as well as assumptions made by, and information currently
available to, management. Because such statements are based on
expectations as to future economic performance and are not
statements of fact, actual results may differ materially from those
projected. We undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. The risks and uncertainties which forward-looking
statements are subject to include, but are not limited to: changes
in general economic, business and political conditions and other
risks detailed in the "Statement Regarding Forward-Looking
Information," "Risk Factors" and other sections of the Company's
Form 10-K and other filings with the Securities and Exchange
Commission. DATASOURCE: Fidelity National Information Services
CONTACT: Michelle Kersch, Senior Vice President, Corporate
Communications, +1-904-854-5043, or , or Mary Waggoner, Senior Vice
President, Investor Relations, +1-904-854-3282, or , both of
Fidelity National Information Serv.; or Henry W. "Bud" Tremblay,
Jr., Exec. Vice President, Bankcard & Merchant, Services
Manager of BB&T Bankcard Corp., +1-252-296-7060 Web site:
http://www.fidelityinfoservices.com/ http://www.fnf.com/
http://www.bbt.com/
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