MONTVALE, NJ, Dec. 22, 2004 – NYCE Corporation, a leading provider of branded network and electronic funds transfer (EFT) services, today announced that the Michigan Community Bankers Service Company (MCBS), a wholly owned subsidiary of the Michigan Association of Community Bankers (MACB), has signed an exclusive data processing and EFT marketing agreement with NYCE.
With this agreement, NYCE will provide community banks participating in the MACB with data processing services through Metavante Corporation, including card authorization services, ATM terminal driving, off-line debit services and links to other networks. In addition, NYCE will provide fraud and loss prevention services for both PIN and signature debit card programs.
“Through the NYCE network, the MACB can sufficiently meet the needs of Michigan’s cardholders by giving them greater access to a wide network of ATMs and POS locations as well as the advantage of NYCE’s innovative payment products,” said Mary Anne Czubko, vice president, Michigan Association of Community Bankers. “This new relationship demonstrates our commitment to providing community bank customers with more payment options to quickly and conveniently perform their banking transactions.”
NYCE will become the sole branded EFT network and related services provider endorsed and promoted by the MCBS, which provides access to volume discounts for products and services to MACB member banks. Currently, MACB has 126 member banks participating in its organization.
“As we broaden our presence in the Michigan area, we’ll continue to look for ways to collaboratively work with organizations like MCBS to provide enhanced access to the NYCE and Metavante robust line of network and corresponding EFT products and processing services,” said Steve Rathgaber, president, NYCE Corporation. “Community banks make up a significant portion of NYCE participants, which reflects our 20 year history of successfully servicing the needs of these valued clients.”
In 2005, MCBS and NYCE will host educational, networking events in Michigan, providing opportunities for bankers to discuss ATM/EFT industry trends and issues. An MACB ATM/EFT Committee has been formed to assist MCBS and NYCE in their efforts to meet the expectations of participating member banks and the needs of their customers.
To date, NYCE currently serves 156 community banks in Michigan, representing 74 percent of the total Michigan community bank segment. Additionally, NYCE is the EFT provider for 307 other financial institutions in the state, including providing consumer EFT access to over 8,000 ATMs and 31,000 POS locations. Nationally, over 40 percent of NYCE’s 2,200 financial institution participants are community banks.
NYCE provides financial institutions, retailers and independent ATM deployers with shared network services for ATM transactions, point-of-sale (POS) services, account-to-account (A2A) money transfers, and direct-debit bill payments for millions of consumers across the U.S. and Canada. EFT data processing services are provided through Metavante.
