MEMPHIS Concord EFS Inc., a leading processor and the owner of the largest electronic funds transfer network in the United States, has signed a long-term contract with Citizens Financial Group Inc. for processing services.
Concord will provide a broad range of services to Citizens, a $30.9 billion-asset financial services company in Providence, R.I. Citizens is wholly owned by Royal Bank of Scotland Group PLC.
Concord will drive Citizens 820 ATMs and will supply online debit card authorization, signature debit card processing, and gateway access to debit networks throughout Citizens New England operating area, which includes Connecticut, Massachusetts, and New Hampshire.
Convenience banking is central to our consumer business, so we wanted a processing partner with quality products and services, plus the vision to help us take our debit transactions services in new directions, said Mark Formica, vice chairman of Citizens.
