ME Bank, an Australia-based branchless bank, has selected FIS, a developer of financial services technology, as its new debit and credit cards platform provider.
The move to invest in the card business is part of ME Bank’s future growth strategy and provides the bank with new payment capabilities.
In addition to the platform, which covers card creation, processing and billing, the collaboration will involve new credit card products for the bank.
ME Bank CEO Jamie McPhee said: “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.
“FIS’ managed service approach and its maturity in the Asia pacific region were crucial to us when considering a new provider.”
FIS head of International Markets Raja Gopalakrishnan said: “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.”
The firms plan to move more than 300,000 of the existing ME Bank customers to the new platform by the end of this year.