- The card service business, a premier provider of branded private label, co-brand and commercial card programs, of Alliance Data Systems (NYSE:ADS) inked an agreement to transition credit card processing services to Fiserv (NASDAQ:FISV).
- "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," CEO Ralph Andretta commented.
- Supporting the company's broader transformation efforts including investing in new digital capabilities and enhancements, anticipated cost savings associated with improved platform efficiencies will be gained.