PR - TSYS Collections and Recovery System Wins Bank Contract

Total System Services, Inc. (NYSE: TSS) announced today that Commerce Bancorp, Inc., has selected the TSYS Collections and Recovery System to manage its entire collections and recovery inventory. This allows the bank to more effectively work all of its delinquent and charged-off card and installment accounts, including automobile loans and mortgages.

“The TSYS Collections and Recovery System allows our management team to maintain a complete and accurate picture of the account inventory,” said Thomas J. Kaplan, senior vice president of Commerce Bancorp. “This system allows for strategy based dialing and account queuing as well as providing an easy method for securely transmitting and reconciling inventories with external vendors.”

The TSYS Collections and Recovery System addresses banking collections and recovery needs, including pre- and post-charge collections and asset sales. It also offers an integrated dialer and voice recognition unit (VRU), which are cost-efficient and effective methods to implement account strategies.

While standard business strategies are delivered, the Commerce Bank of New Jersey management team was able to customize their collections and recovery approach to meet their unique requirements, including exception handling such as bankruptcy, probate and repossession.

“The TSYS Collections Recovery System will allow Commerce Bank to efficiently manage their inventory,” said William A. Pruett, senior executive vice president of TSYS. “Through the system’s strategic account management, representatives work all accounts in the most effective manner possible, based on account risk, scores, and a variety of other account and customer characteristics.”

The TSYS Collections and Recovery System is powered by Ontario Systems and is available to all financial services organizations who desire improved bottom line performance in collections and recovery.