First Data Expands Union Bank, N.A. Relationship with Long-Term Debit Processing Deal
ATLANTA and SAN FRANCISCO, June 3, 2014 – First Data, the global leader in payment technology and services solutions, and Union Bank, N.A., a full-service commercial bank providing a broad mix of financial services to businesses and individuals, today announced the companies recently finalized a multi-year agreement for debit processing, ATM driving, and card fulfillment output services.
Building on the nearly three-decade STAR network relationship with Union Bank, First Data will provide the efficiency, scale and functionality required for the $107.2 billion bank and its nearly one million cardholders while the bank continues to manage its own portfolio.
“For many years we successfully maintained debit processing in-house and now with First Data, we have a trusted partner to help us manage the increasingly complex processing program with the appropriate tools we need so we can focus on growing our business and servicing our customers,” said Maha Madain, senior vice president at Union Bank and head of Retail Deposit Products and Payments.
Operating more than 420 retail branches in California, Washington and Oregon, Union Bank has commercial branches in Dallas, Houston, Atlanta, New York and Chicago, as well as two international offices. Among the bank's markets are consumer, small business, middle market, real estate, corporate, correspondent, and trade finance while the bank's commercial clients include communications, media, entertainment, energy, public utilities, retailing, and other specialty industries.
“In an ever-changing debit industry, many financial institutions are evaluating their systems and partners for increased efficiency while looking to maintain control of their program,” said Barry McCarthy, president, First Data Financial Services. “Acting as a consultative partner to Union Bank, First Data will deliver scale and functionality that includes upgrades for EMV, fraud management, and analytics capabilities.”
About UnionBanCal Corporation & Union Bank, N.A.
Headquartered in San Francisco, UnionBanCal Corporation is a financial holding company with assets of $107.2 billion at March 31, 2014. Its primary subsidiary, Union Bank, N.A., provides an array of financial services to individuals, small businesses, middle-market companies, and major corporations. The bank operated 422 branches in California, Washington, Oregon, Texas, Illinois, New York and Georgia, as well as 2 international offices, on March 31, 2014. UnionBanCal Corporation is a wholly-owned subsidiary of The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ Financial Group (MUFG, NYSE:MTU), one of the world’s largest financial organizations. In July 2013, American Banker Magazine and the Reputation Institute ranked Union Bank #1 for reputation among its customers. Visit https://www.unionbank.com for more information.
About First Data
Around the world, every second of every day, First Data makes payment transactions secure, fast and easy for merchants, financial institutions and their customers. First Data leverages its vast product portfolio and expertise to drive client revenue and profitability. Whether the choice of payment is by debit or credit card, gift card, check or mobile phone, online or at the checkout counter, First Data takes every opportunity to go beyond the transaction. More information about the company is available on FirstData.com as well as on Twitter, LinkedIn, Facebook and YouTube.
Joanne Curran, Union Bank
Kwiyoung Baumgarten, First Data