Deluxe Inks Significant New Remittance Processing Agreement With Synchrony

Deluxe (NYSE: DLX), a Trusted Business Technology™ company, announced it has been awarded a significant outsourcing agreement with Synchrony, a premier consumer financial services company.

Deluxe has an industry-leading position in the remittance processing business. In assuming Synchrony’s remittance processing work, Deluxe will provide Synchrony’s customer base with the same high-quality service that they have become accustomed to. Employees located in Synchrony’s Longwood, Florida and Atlanta, Georgia sites will become Deluxe employees on January 1, 2020, becoming integral members of the company’s ongoing expansion in remittance processing.

“This is a significant win for Deluxe. The addition of this exceptional team allows Deluxe to develop new relationships across the industry and reach into geographic markets where we previously did not have a foothold,” said Barry McCarthy, President and CEO of Deluxe. “Synchrony was already utilizing our remittance processing technology and equipment in its Longwood and Atlanta operations, so this is a natural fit for both companies.”

By winning this work, Deluxe is establishing a strategic new footprint in a pivotal area of the country. Not only does this expand the scale and scope of its offerings in the remittance processing space, it further expands Deluxe Treasury Management’s overall reach.

“The services that Synchrony provides in remittance processing are core to the already robust suite of offerings within Deluxe Treasury Management Solutions,” said Gary Cawthorne, vice president of Deluxe Treasury Management Solutions. “This outsourcing agreement with Synchrony, and the addition of their incredible team into the Deluxe family, complements our scale as a provider of choice in the industry.”

In April, 2019, McCarthy announced a new go-to-market strategy for Deluxe to move from a company of companies to a company of products. In doing so, he said the company would focus on four strategic areas: Payments, Cloud Solutions, Promotional Products and Checks. In 2019, Deluxe Treasury Management Solutions, part of the Payments area, won more than 25 new clients. The addition of the Synchrony work enhances the solution’s already solid reputation in the payment’s marketplace.

“We are without doubt a leader in treasury management services,” McCarthy said. “With remittance processing locations throughout the country, we are able to quickly scale operations and meet new challenges current and future customers bring our way. Our entire Payments area continues to set the pace of growth for our company.”

For more than 100 years, Deluxe Corporation has been a partner and solutions provider to corporations and financial institutions. Deluxe Treasury Management Solutions, bring best-in-class services such as payment processing, receivables management, remote deposit capture, digital imaging solutions and more to financial services and corporate clients alike.

About Deluxe Corporation
Deluxe is a Trusted Business Technology™ company for enterprises, small businesses and financial institutions offering a range of solutions to help customers manage and grow their businesses. Approximately 4.8 million small business customers access a wide range of products and services from Deluxe, including incorporation services, logo design, website development and hosting, email marketing, social media, search engine optimization and payroll services, along with customized checks and forms. For our approximately 4,600 financial institution customers, Deluxe offers industry-leading programs in data analytics, customer acquisition and treasury management solutions, fraud prevention and profitability solutions, as well as checks. Deluxe is also a leading provider of checks and accessories sold directly to consumers. For more information, visit us at www.deluxe.com, www.facebook.com/deluxecorp or www.twitter.com/deluxecorp.

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