TSYS announced that it has reached a long-term agreement to provide consumer credit processing services along with value- added capabilities for Virgin Money customers within the United Kingdom. Virgin Money selected TSYS’ market leading TS2 platform to support its UK cards portfolio.
Virgin Money is a UK-based retail bank, providing savings, mortgages, credit cards,
pensions, as well as investment and protection products to three million customers. The company is launching its own credit card business following the purchase of £1 billion in assets from MBNA.
TSYS will provide a flexible and reliable card processing solution for Virgin Money with value- added capabilities being provided through various partners, including TSYS Managed Services EMEA.
Michele Greene, director of banking for Virgin Money, said, “Virgin Money is continuing to build its range of banking services for customers and to offer real competition on the high street. TSYS was selected as our preferred long-term partner to help us build our credit card operation because of their strong capabilities in the UK and their flexible and secure solution that can grow and adapt with us as we build a successful business for the future.”