Of Special Interest
- Financial wellness affects half of peoples’ mental or physical health, finds report
- Study finds traditional financial institutions embrace Fintech disruption
- Grass is greener for environmentally friendly businesses, finds Barclays
- Prospective homeowners would consider a 40-year mortgage to escape renting, finds Santander
- Millennials’ needs are changing the face of banking industry, says new report
- FS is putting consumer data at risk by failing to protect mobile apps, says Arxan
- A lack of belief in their ability holds 28% women back in work, says Cambridge & Counties
- ‘Which?’ reveals Scotland has lost over a third of its bank branches in eight years
- Next downturn unlikely to be as bad as 2008, according to S&P
- FCA reveals findings from first cryptoassets consumer research
- US consumers favour single mobile app for banking and payments
- Banks suffering major IT shutdowns every day, ‘Which?’ reveals
- The US will be a key offshore centre in 2019, says GlobalData
- Debit industry changes markedly in 10 years of the Debit Issuer Study
- UK's ‘Big Five’ face ‘too big to compete’ as small challengers secure stellar returns
- Banks as vulnerable now as before crash, says new study
- Leverage ratio a constant conundrum for European and US banks, says SNL
14th October 2011
TSYS renews outsourcing deal with Capital One
Total System Services (TSYS) has renewed its outsourcing deal with Capital One which will now run until at least 30th September 2017.
Terms of the contract have not been released and TSYS states that it is a quiet period prior to the announcement of its latest financial results on October 25th. TSYS processes the credit card business for Capital One.
In August of this year Capital One agreed to buy the private label US card business of HSBC. The card outstandings are in excess of $30bn with 27m active cardholders. It is understood that TSYS is bidding to process some or all of this business for Capital One. It was stated at the time of the deal that all HSBC card staff affected would be offered a job with Capital One. Whether this could be stretched to include a job with TSYS or Capital One is less clear.