First National Bank of Omaha and American Express today announced a new card-issuing partnership, whereby First National Bank will issue American Express-branded cards on the American Express merchant network. First National Bank expects to begin issuing the new cards during the first half of 2011.
"Our new card-issuing partnership with American Express will help us significantly broaden our cobrand opportunities, particularly in the premium segment," said Stephen Eulie, President, First National Credit Card Center. "With American Express' vast knowledge and expertise in delivering differentiated products and services, we will be able to deliver exciting new benefits, services and product offerings that will appeal to our mass-affluent customer segments."
"We are excited about our new relationship with First National Bank of Omaha, and we are looking forward to helping them target new customers and cobrand partners with a compelling new product range," said William Stredwick, Senior Vice President and Head of North America, American Express Global Network Services. "First National Bank is a highly respected financial services institution, and we are confident that we can add tremendous value to First National Bank's product portfolio as it further deepens its penetration into the premium segment."
Under the terms of the agreement, First National Bank of Omaha will issue the cards, manage customer relationships and be responsible for all marketing, billing, charge authorizations and credit management. American Express will process the transactions through its merchant network, and the cards will be welcomed at millions of locations worldwide.
First National Bank of Omaha
First National Bank of Omaha is a leader in the credit card partnership arena. With more than 600 financial institution, co-brand, and affinity partners, First National Bank's history in the partnership space spans over 42 years. As a Top 15 issuer of credit cards, First National Bank is committed to its customers, offering quality products and superior service to help them to achieve their goals. First National Bank is a subsidiary of First National of Nebraska. First National of Nebraska has grown into the largest privately-owned banking company in the United States. First National and its affiliates have $17 billion in managed assets and more than 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Since 1996, American Express has been pursuing a strategy of opening its merchant network and card product portfolio to third party issuers around the world. By leveraging its global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide. American Express has now established 129 partnerships in 130 markets across the world. Learn more at www.americanexpress.com/gns.