 |
| Image via CrunchBase |
November 17, 2011 01:00 AM Eastern Time
COLUMBUS, Ga. & MOSCOW--()--TSYS announced today that the largest private bank in Azerbaijan, Bank Standard, has signed an agreement to license its PRIME 4 card and merchant management solution. Bank Standard will deploy the solution to support its expanding card portfolio of Visa and MasterCard credit, debit and prepaid cards, in addition to managing its merchant acquiring business.
“Bank Standard is committed to providing innovative card programs and value-added services to their clients, and we are excited to offer them our PRIME solution for empowerment and differentiation of their card offering and services in the market”
The locally incorporated bank selected TSYS as a partner in the region based on PRIME 4’s suitability as a cost-effective single platform solution for issuing and acquiring with strong product performance. With built-in, rule-based technology to monitor and detect suspicious transactions in real time, PRIME will provide the bank with better fraud and risk management, in addition to extensive workflow capabilities and parameter-driven technology to increase operational efficiency, increase speed to market and help improve profitability.
"We were looking for a best-of-breed, in-house solution that had the functionality, depth and breadth to support multiple card types, fast product launches and future innovation,” said Elchin Abdullayev, retail products division head of Bank Standard. “TSYS offered this with its flexible, scalable PRIME solution and backed it with an impressive regional and global track record in the payments industry.”
“Bank Standard is committed to providing innovative card programs and value-added services to their clients, and we are excited to offer them our PRIME solution for empowerment and differentiation of their card offering and services in the market,” said Kelley C. Knutson, executive vice president, TSYS.
TSYS has a strong presence within the Commonwealth of Independent States (CIS) with 19 clients in 7 countries, including some of the top ranking banks in their countries.
About TSYS
TSYS (NYSE: TSS) is reshaping a new era in digital commerce, connecting consumers, merchants, financial institutions, businesses and governments. Through unmatched customer service and industry insight, TSYS creates a better experience for buyers and sellers, supporting cross-border payments in more than 85 countries. Offering merchant payment-acceptance solutions as well as services in credit, debit, prepaid, mobile, chip, healthcare, installments, money transfer and more, TSYS makes it possible for those in the global marketplace to conduct safe and secure electronic transactions with trust and convenience.
TSYS’ headquarters are located in Columbus, Georgia, with local offices spread across the Americas, EMEA and Asia-Pacific. TSYS provides services to more than half of the top 20 international banks. For more information, please visit us atwww.tsys.com.
About Bank Standard
Following its establishment in 1995, Bank Standard has operated as a retail bank specialising in providing services to individuals. Since 2004, in line with changing its name, Bank Standard revised its development plan and changed into a universal commercial bank focused on serving both individuals and the business sector, providing a broad range of financial services to its clients.
Currently, the Bank is in the process of rapid development by actively introducing new service technologies. Services to individual and corporate clients include settlement services, various lending instruments, payment card services, term deposits for individuals and corporate clients, transfers through international money transfer systems, securities transactions, trade financing and documentary transactions, provision of loans and guarantees, factoring, consulting, etc.
The growth potential of the bank is largely determined by its reputation as of the largest private bank in the country, by its client base and its top quality service. The client base of the bank comprises more than 1,300 corporate accounts and more than 25,000 individual accounts.
