Deluxe will assume all retail and wholesale remittance processing for Synchrony
Deluxe, a Trusted Business Technology company, announced it has been awarded a significant outsourcing agreement with Synchrony, a premier consumer financial services company.
Deluxe has an industry-leading position in the remittance processing business. In assuming Synchrony’s remittance processing work, Deluxe will provide Synchrony’s customer base with the same high-quality service that they have become accustomed to. Employees located in Synchrony’s Longwood, Florida and Atlanta, Georgia sites will become Deluxe employees on January 1, 2020, becoming integral members of the company’s ongoing expansion in remittance processing.
“This is a significant win for Deluxe. The addition of this exceptional team allows Deluxe to develop new relationships across the industry and reach into geographic markets where we previously did not have a foothold,” said Barry McCarthy, President and CEO of Deluxe. “Synchrony was already utilizing our remittance processing technology and equipment in its Longwood and Atlanta operations, so this is a natural fit for both companies.”
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By winning this work, Deluxe is establishing a strategic new footprint in a pivotal area of the country. Not only does this expand the scale and scope of its offerings in the remittance processing space, it further expands Deluxe Treasury Management’s overall reach.
“The services that Synchrony provides in remittance processing are core to the already robust suite of offerings within Deluxe Treasury Management Solutions,” said Gary Cawthorne, vice president of Deluxe Treasury Management Solutions. “This outsourcing agreement with Synchrony, and the addition of their incredible team into the Deluxe family, complements our scale as a provider of choice in the industry.”
In April, 2019, McCarthy announced a new go-to-market strategy for Deluxe to move from a company of companies to a company of products. In doing so, he said the company would focus on four strategic areas: Payments, Cloud Solutions, Promotional Products and Checks. In 2019, Deluxe Treasury Management Solutions, part of the Payments area, won more than 25 new clients. The addition of the Synchrony work enhances the solution’s already solid reputation in the payment’s marketplace.
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“We are without doubt a leader in treasury management services,” McCarthy said. “With remittance processing locations throughout the country, we are able to quickly scale operations and meet new challenges current and future customers bring our way. Our entire Payments area continues to set the pace of growth for our company.”
For more than 100 years, Deluxe Corporation has been a partner and solutions provider to corporations and financial institutions. Deluxe Treasury Management Solutions, bring best-in-class services such as payment processing, receivables management, remote deposit capture, digital imaging solutions and more to financial services and corporate clients alike.
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