FirstBank Puerto Rico partners with FIS
FirstBank Puerto Rico partners with FIS
This alliance will position the bank at the forefront in banking technology services
SAN JUAN, Puerto Rico--(BUSINESS WIRE)-- Today FirstBank Puerto Rico, the second largest commercial chartered financial institution in the island, announced it has formalized a strategic alliance with FIS™ (NYS: FIS) , the world's largest global provider dedicated to banking and payment technologies.
The seven year agreement, will give FirstBank the enhanced ability to achieve technological leadership by providing state of the art product and services to its clients across the territories. Through this alliance, FirstBank will have the capabilities to proactively take action on constant regulatory changes and data security requirements, integrate its systems platform, launch new initiatives and complete projects more rapidly, as well as have access to new products and services.
Aurelio Alemán, president and CEO of FirstBank Puerto Rico, expressed his satisfaction with this partnership stating that "this agreement will help us accelerate the execution of our strategic objectives and will better prepare our organization for future growth. It will certainly position us at the forefront in banking technology services, resulting in additional benefits to our customers, thus, strengthening our reputation as a leader in customer service in the local financial industry."
Under this agreement, effective April 1, 2013, FIS will manage FirstBank's Data Center and will be in charge of all technology related matters. The Bank will, in turn, maintain control over priorities and business opportunities, and will also retain the Project Management functions.
FIS, the world's leading financial services technology company, serves more than 14,000 institutions in over 110 countries and employs more than 35,000 people. Its global expertise in software and technology management, including third party platforms, will provide FirstBank access to best practices in the technology industry.
"We are delighted to be working with FirstBank Puerto Rico," said Marcelo Annarumma, Managing Director, FIS Latin America & Caribbean. "The agreement will allow us to bring our global expertise in outsourcing for Financial Institutions to bear for the benefit of FirstBank and its customers. The deal also gives FirstBank access to FIS' leading portfolio of banking and payment applications as they launch new products and services and drive their business forward into new markets."
About First BanCorp
First BanCorp. is the parent corporation of FirstBank, a state-chartered commercial bank with operations in Puerto Rico, the Virgin Islands and Florida, and of FirstBank Insurance Agency. First BanCorp. and FirstBank operate within U.S. banking laws and regulations. The Corporation operates a total of 154 branches, stand-alone offices, and in-branch service centers throughout Puerto Rico, the U.S. and British Virgin Islands, and Florida. Among the subsidiaries of FirstBank are First Federal Finance Corp., a small loan company; FirstBank Puerto Rico Securities Corp., a broker-dealer subsidiary; First Management of Puerto Rico; and FirstMortgage, Inc., a mortgage origination company. In the U.S. Virgin Islands, FirstBank operates First Express, a small loan company. First BanCorp's Common Stock trades on the New York Stock Exchange under the symbol "FBP."
FIS (NYS: FIS) is the world's largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 110 countries. Headquartered in Jacksonville, Fla., FIS employs more than 35,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. First in financial technology, FIS tops the annual FinTech 100 list, is 425 on the Fortune 500 and is a member of Standard & Poor's 500® Index. For more information about FIS, visit www.fisglobal.com.
Contact for FirstBank:
Iris González, 787-729-8130
VP Public Relations
Contact for FIS:
Kim Snider, 904-438-6278
VP Global Marketing and Communications
KEYWORDS: United States North America Caribbean Florida Puerto Rico New York
The article FirstBank Puerto Rico partners with FIS originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.