TSB turns to First Data for bank portfolio services
First Data will migrate TSB’s credit and debit card portfolio onto its FirstVision platform. Additionally, First Data will power TSB’s digital payments and provide merchant acquiring services for money and balance transfers.
Angel Alonso, MD of SabisUK, says the deal allows it to “focus on configuring and launching new products and services for TSB as we grow our presence in the UK market”.
The FirstVision platform incorporates a range of products and services for the management and processing of credit cards, as well as debit, commercial, prepaid, loyalty management, loan, and card acquiring.
Sabadell is Spain’s fifth largest banking group. It has assets in excess of €212 billion, more than 2,700 branches, and over 11.8 million customers. Its core markets are Spain, the UK and Mexico, and focuses on SMEs and retail banking. In 2015, TSB accepted a takeover offer from Sabadell.