First Data Corp. said Thursday that The Bankers Bank of Oklahoma City will use its Internet banking technology.
The Bankers Bank, which also uses First Data's debit card processing services, has agreed to offer First Data's Internet banking to the 97 community banks it serves over the course of a five-year agreement. These services include online bill payment and presentment, online statements, personal financial management, and business tools such as automated clearing house payments, wire payments and positive pay.
Other terms were not disclosed.
"The combination of Internet banking and a trusted debit network allows community banks served by The Bankers Bank to offer their customers convenient, reliable and secure ways to access and control their money," Kevin Barry, the general manager of First Data's Star Network, said in a press release. First Data is a unit of the private-equity firm Kohlberg Kravis Roberts.