First Data and Valley National Bank Form Long-Term Referral Relationship
- Category: Corporate
NEW YORK, SEPTEMBER 15, 2017– Today First Data (NYSE: FDC), a global leader in commerce-enabling technology, and Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NYSE:VLY), announced that they have entered into a long-term agreement to provide secure commerce solutions for the bank’s merchant clients. The referral relationship will provide First Data’s cutting-edge solution suite, including First Data’s Clover platform, to Valley National Bank’s business client base across their network of more than 200 branches in New Jersey, New York, and Florida.
“Valley National Bank has a long history of providing its clients with superior service, and we are thrilled to be in business with this terrific partner,” said Chris Foskett, Executive Vice President, Head of Business and Corporate Development, First Data. “Like Valley National Bank, First Data is focused on bringing personalized service and customized solutions to our clients. We look forward to supporting Valley National Bank’s clients with our innovative solution suite.”
“We are excited about the opportunity to partner with First Data as we continue to focus on simplifying payment processing solutions for our commercial clients,” remarked Valley National Bank Senior Executive Vice President and Chief Consumer Banking Officer, Dianne Grenz. “This new relationship will help us deliver the unique and innovative solutions our business clients need to be successful in today’s global commerce industry.”
As part of the long-term deal, Valley National Bank’s merchant clients will have access to First Data’s Clover platform, a comprehensive suite of hardware and software point-of-sale solutions that supports businesses of all sizes. The platform features 300 apps designed to help businesses run more efficiently, as well as the recently-announced Clover Flex, a smart payment terminal that fits comfortably as a handheld device or on the countertop. The Clover platform also features Clover Capital, a financing solution designed to help small and mid-sized merchants meet their ongoing liquidity requirements by providing rapid access to capital.
In addition, First Data’s Clover platform allows for easy integration with software that caters to specific business segments, such as restaurants, hair salons, or specialty retailers. Through these integrations Clover can meet the unique needs of merchants across a variety of verticals. Valley National Bank will also have access to First Data’s eCommerce solution set, which includes a range of tools for everyone from local small businesses to large retailers to seamlessly accept online or mobile transactions.
For more information, visit valleynationalbank.com/clover.
About First Data
First Data (NYSE: FDC) is a global leader in commerce-enabling technology, serving approximately six million business locations and 4,000 financial institutions in more than 100 countries around the world. The company’s 24,000 owner-associates are dedicated to helping companies, from start-ups to the world’s largest corporations, conduct commerce every day by securing and processing more than 2,800 transactions per second and $2.2 trillion per year.
Valley National Bancorp is a regional bank holding company headquartered in Wayne, New Jersey with approximately $23 billion in assets. Its principal subsidiary, Valley National Bank, currently operates over 200 branch locations in northern and central New Jersey, the New York City boroughs of Manhattan, Brooklyn, Queens and Long Island, and Florida. Valley National Bank is one of the largest commercial banks headquartered in New Jersey with Executive Offices in Manhattan and West Palm Beach. Helping communities grow and prosper is the heart of Valley’s corporate citizenship philosophy. For more information about Valley National Bank and its products and services, please visit www.valleynationalbank.com.