FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that it is working with UK-based Vanquis Bank to provide outsourced payment services in support of the bank’s international business.
Vanquis Bank is a leading specialist in lending and credit cards and part of the Provident Financial Group. It offers financial services to more than 1m customers in the UK and is currently embarking on a new pilot programme in Poland. Vanquis Bank chose FIS as its credit card processing provider because of its solution flexibility and ability to accelerate deployment.
Vanquis Bank launched a full credit card product in Poland – a brand new market with unique compliance standards, language and currency – in just four months. The accelerated time to market was achieved because the FIS platform is built on an open architecture and provides a wide range of robust functionality. With very few requirements for customisation and a skilled local team responsible for the implementation, FIS can implement complex credit card programmes in a matter of weeks.
“We selected FIS because of its track record and ability to deliver successful payment processing services flexibly and at scale, which was critical to enable and sustain our plans for further growth,” said David Underwood, IT & Operations Director at Vanquis Bank. “FIS has the experience and capabilities to offer credit processing suited to each of our target regions, enabling us to move forward with a single solution provider quickly and cost-effectively.”“We are delighted to be working with Vanquis Bank to support the growth of their business,” said Ian Benn, Managing Director, EMEA Payments for FIS. “Because our proven systems can be deployed quickly, Vanquis Bank has been able to launch rapidly, enabling them to focus on service innovation and growth. We look forward to continuing work with Vanquis Bank.”