Equifax Offers Banks and Credit Unions New Tools To Issue and Manage Credit Cards

TAMPA, July 29, 1996 -- Equifax Card Services has installed new software systems that allow card-issuing and merchant-acquiring institutions to better position themselves to compete in the marketplace.

The new systems, developed by FBS Software, an Equifax company, are among the most sophisticated in the world and serve to solidify Equifax Card Services as a leader in the credit card industry.

Leading financial institutions from around the world such as Mellon Bank, WestPac (Australia), Canadian Imperial Bank of Commerce and Wing Lung Bank (Hong Kong) utilize FBS-based processing software.

"To maintain our leadership in the credit card industry, we constantly invest in new technology that upgrades our systems and offerings," said Lee Kennedy, president, Equifax Payment Services. "The FBS software is unique because it allows each of our customers to customize their options, regardless of the size of their portfolio. It is important to our customers to offer targeted services to their consumers in a cost-effective manner."

The FBS systems provide flexibility through a vast array of on-line controls and "Qualification Sets" or Q-Sets. Q-Set technology allows issuing institutions to tailor criteria based on actual cardholder activity. Q-Sets control functions as simple as card reissue and credit line increases, to more complex requirements utilized in authorizations and collections.

More importantly, little or no programmer intervention is required to change system elements for enhancements to existing products or to issue new offerings A new program idea can be formulated, tested and implemented within one week in many cases -- a level of responsiveness currently unmatched in the credit card processing industry.

Atlanta-based FBS Software develops and licenses mainframe and Unix-based software for payment card processing, merchant portfolio processing and collections. Incorporated in 1986 as First Bankcard Systems, the company became a wholly owned subsidiary of Equifax in 1994.

Equifax Card Services is part of Equifax Payment Services, the Tampa-based card processing and check authorization arm of the Equifax Financial Services Group. Its parent, Equifax Inc. (NYSE:EFX), is the leading provider of information services that help grant credit, authorize and process credit card and check transactions, insure lives and property and control healthcare costs. Established in 1899 in Atlanta, Equifax today employs 14,000 people throughout North and South America, the United Kingdom and continental Europe. Revenues for the 12 months ended June 30, 1996, totaled $1.7 billion.