ALLTEL announced Friday the expansion of its outsourcing agreement with Colonial State Bank, an Australia-based financial services provider, with the signing of two long- term contracts for management of credit card accounts and electronic payments services.
The new agreements result in subcontracts between ALLTEL and Cashcard Australia Limited of Sydney, a service bureau provider of automated teller machine/electronic funds transfer point-of-sale (ATM/EFTPOS) services in Australia, and between ALLTEL and PaySys International, Inc., of Maitland, Fla., a provider of credit card software. The term of the agreement with PaySys is 66 months, and the Cashcard term is six years.
Through the Cashcard subcontract, ALLTEL will replace the bank’s existing ATM/EFTPOS system and provide processing for these types of transactions.
Under terms of the subcontract with PaySys, ALLTEL will replace Colonial’s existing mainframe-based credit card system with the PaySys VisionPLUS software and will provide processing for credit card transactions.
“Colonial’s strategy in appointing ALLTEL was to seek excellence at every point,” said Stuart B. James, managing director, Colonial State Bank. “The Cashcard and PaySys relationships further enhance the group’s strategy, and we are looking forward to delivery of the potential found within these contracts.”
Phil Sutphin, managing director of ALLTEL Information Services’ Global Operations group, said, “This expansion of our outsourcing relationship with Colonial State Bank represents in every way the added value that partnership can bring to bear when companies join forces to create solutions. These agreements with Cashcard and PaySys represent a trend toward strategic business partnerships that we believe will enhance the services we provide to our clients in the global marketplace.”
Colonial outsourced its information and telecommunications systems to ALLTEL in a February 1997 agreement. The contract was one of the largest outsourcing agreements in ALLTEL’s history and the first of its kind in the Australian financial industry.
As a result of that contract, ALLTEL is operating Colonial’s data center, converting the group’s banking information systems to the ALLTEL integrated financial software, making major improvements to Colonial’s voice and data network, providing business process reengineering services, and supplying and managing desktop facilities. Also, ALLTEL is providing Year 2000 compliance services and maintenance of existing software applications.
The Colonial Group has business operations in 11 countries around the world and is a major international financial services provider with businesses in banking, insurance and pensions, funds administration and funds management. It has assets held and under management in excess of US$30 billion and more than 10,000 staff and 20,000 agents.
ALLTEL Information Services, with customers in 47 countries around the world, provides information processing management, outsourcing services and application software to the financial, mortgage and telecommunications industries.
ALLTEL Corporation is a customer-focused, information technology company that provides wireline and wireless communications and information services.Details