Agent Bank


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Agent Bank

1. See: Lead manager.

2. See: Agency bank.

3. A bank that issues a credit card on behalf of the primary issuer. The agent bank does not finance the credit card transactions. Most credit card issuers are in fact agent banks.
References in periodicals archive ?
Each agent bank has control of the payment channel and the customer relationship.
All three services enable agent banks and lenders to view and reconcile syndicated loans on a daily basis.
Societe Generale joins the growing list of top tier global agent banks that use the Reconciliation Service to view and reconcile loan positions and accruals.
DTCC introduced its Reconciliation Services in 2008, which enabled agent banks and lenders to view and reconcile loans at all levels, from commitment and transaction level down to the individual contracts and fees, with all of the relevant transaction detail.
Deutsche Bank is one of the eight leading global agent banks using DTCC's reconciliation services.
The move adds several hundred banking institutions and several thousand merchants to the MCPS agent bank program.
This service will complement our existing Loan/SERV Reconciliation and Messaging Services, both introduced in 2008, that automate and facilitate the trading and tracking of syndicated loans for both agent banks and lenders.
By partnering with Century, we are able to provide our Agent Bank partners with a wealth of services, resources and customizable solutions," said Tom Konz, senior vice president of indirect sales and marketing for RBS WorldPay.
The decision by Webster Bank to renew a card agreement with us helps to validate that our First USA agent bank business effectively protects and honors our partners' brands while still providing a best-in-class credit card program.
Clearent provides debit- and credit-card payment processing to independent sales organizations (ISOs) and agent banks.
The rapid and favorable response to our joint offering affirms the value proposition our Agent Bank Reseller program offers," Safahi added.