Regional bankholding firm Synovus Financial Corp. has been honored for its innovation in the electronic payments arena.
The NACHA, an electronic payments association, recently presented Columbus-based Synovus with the 2008 George Mitchell Payments System Excellence Award.
NACHA is not-for-profit association that oversees the Automated Clearing House (ACH) Network, one of the largest electronic payment networks in the world.
“We are honored to be selected as innovators in this business segment,” said Lee Lee James, vice chairman of Synovus. “Our team members understand the importance of creating the products and services that meet the needs of our customers and keep pace with the challenges of our rapidly evolving industry.”
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The excellence award is given to the person or organization that demonstrates superior leadership in the development, implementation or advancement of electronic payments. It is named in honor of the late George Mitchell, former vice-chairman of the Federal Reserve Board of Governors.
“Synovus is an organization that has turned the challenge of a decentralized structure into a successful business model and used technology as their core tenet for growth,” said Elliott C. McEntee, president and CEO of NACHA. “Synovus brings creative energy and vision to the industry process of building the products that will continue to drive popularity and growth of electronic payments.”
Synovus oversees more than $33 billion in assets through 36 banks in Georgia, Alabama, South Carolina, Florida and Tennessee.