consumer finance

Credit card business no longer part of Citigroup?

September 1, 2009 - 7:55am | Articles | Banks and internet banks

On Monday Citi reported that it sold three credit card portfolios representing $1.3 billion in managed assets, as part of a plan to unload weak businesses and troubled assets that caused huge losses. The company did not disclose the names of the buyers.

With no details of the deal Citi said that it will continue to service the portfolios through the first half of 2010.

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First Data prolongs partnership with Turkish Akbank for card management

August 27, 2009 - 10:20am | News | Plastic cards

First Data announced the renewed partnership with Akbank for its global issuing and consumer finance solution. Akbank, Turkey's largest bank in terms of market capitalization, has been using First Data's issuing and consumer finance platform for the management of its loyalty card brands such as Axess, Wings and Fish since 2001. Under the terms of the new agreement, Akbank will continue to use the First Data solution to grow its credit card customer base.

Akbank | consumer finance | Credit card | Fist Data | issue card

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