Alliance Data chooses Fiserv to bolster credit processing services
By Pavithra R
Alliance Data, a leading provider of data-driven marketing, loyalty and payment solutions has announced that its Card Services business, a premier provider of branded private label, co-brand and commercial card programs, has entered into an agreement to transition credit card processing services to Fiserv, a leading global provider of financial services technology solutions.
The increased flexibility and nimbleness of Fiserv’s platform is expected to benefit Alliance Data to integrate a variety of additional payment products seamlessly in the future. The migration will enable faster speed-to-market for new products, credit program launches and portfolio conversions. The strategic agreement is built on Alliance Data’s continued focus on tech modernization, delivering enhanced payment and servicing capabilities and continued efficiencies.
“The strategic partnership announced today reflects our commitment to invest in competitive technology and provide greater value and service to our brand partners and their customers. Our robust suite of payment products, industry-leading data and analytics capabilities and turnkey credit marketing services, combined with a modern, flexible and scalable platform from Fiserv, will allow Alliance Data to achieve greater agility and speed-to-market for a variety of new, innovative products and solutions,” said Ralph Andretta, president and chief executive officer, Alliance Data.
Alliance Data is planning to allocate the anticipated cost savings it receives through improved platform efficiencies to areas that support the company’s transformation efforts, including investing in various new digital capabilities and enhancements.
“We are honored to support Alliance Data, a premier payment solutions provider, as they make this important strategic move as part of their broader technology modernization initiatives,” said Frank Bisignano, president and chief executive officer, Fiserv.
Fiserv is a global provider of payment and financial services technology. The FinTech aspires to move money and information in a way that moves the world. The FinTech is a member of the S&P 500 Index and the FORTUNE 500 and is among FORTUNE World’s Most Admired Companies.
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