Credit-card processor TSYS said Tuesday it has inked an agreement with Raleigh, N.C.-based First Citizens Bank to handle its portfolio of commercial and consumer accounts.
The multi-year deal includes card and statement production, along with fraud detection services. No financial details were disclosed.
"TSYS is known throughout the industry for its innovative payments solutions, and First Citizens was looking for a processing partner who continues to invest strategically in its technology and its people," William Shaw, First Citizens' group vice president over the bank's credit-card division, said in a statement.
First Citizens has been a client of Columbus-based TSYS for more than 10 years.
"We feel that First Citizens can leverage our technology to expand the size and profitability of their credit card portfolios," Troy Woods, TSYS president and chief operating officer, said in a statement.
Founded in 1898, First Citizens Bank operates 340 branches in more than 200 cities and towns in North Carolina, Virginia, West Virginia, Tennessee and Maryland. The bank is a subsidiary of First Citizens BancShares Inc., which oversees $16.2 billion in assets.