Branchless bank ME taps FIS for new card platform

Australia-based ME Bank has selected FIS as its new cards platform provider, to support the expansion of a card strategy started in 2016.

FIS will be providing the bank with “a modern platform” for credit and debit cards including card creation, processing, and billing. The vendor will also work with ME Bank on a “suite” of new credit card products.

ME Bank, founded in 1994, received its banking licence from the Australian prudential Regulatory Authority in July 2001. Initially conceived to offer customers home loans, the branchless bank now offers savings, team deposits and transaction accounts. It launched its first credit card, a low-rate card called Frank, in 2016.

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“FIS’ cards platform will give us new credit and debit payment capabilities and enable us to launch new products to grow our business while staying current with regulatory and compliance requirements,” said Jamie McPhee, CEO of ME Bank. “FIS’ managed service approach and its maturity in the Asia pacific region were crucial to us when considering a new provider.”

Raja Gopalakrishnan, head of international markets for FIS, added: “We look forward to helping the bank build its card business and provide superior services to its cardholders through a state-of-the-art technology platform.”

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ME Bank chief information security officer Smanatha MacLeod left the bank at the start of January, after two years’ service. MacLeod was appointed general manager for cyber security at the bank following a 2015 shake-up.

Craig Ralston, ME group executive, service excellence, is currently acting as the bank’s CIO. It’s not the first time the bank has seen its executives poached, either. In November 2017 former CIO Mark Gay left the bank after three years in the role.

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