21 Financial Institutions Sell Credit Card Portfolios with $82.1 Million in Outstanding Balances to Elan Financial Services in Third Quarter of 2006.MILWAUKEE Milwaukee (mĭlwŏk`ē), city (1990 pop. 628,088), seat of Milwaukee co., SE Wis., at the point where the Milwaukee, Menominee, and Kinnickinnic rivers enter Lake Michigan; inc. 1846. -- Elan (Emulated LAN) A virtual LAN in the ATM world. See LANE and virtual LAN. Elan - ["Top-down Programming with Elan", C.H.A. Koster, Ellis Horwood 1987]. Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. signed agreements with 21 financial institutions in the third quarter of 2006 to provide credit card outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. services to their customers. The new agreements cover $82.1 million in combined outstanding balances. Elan has signed 55 partnerships representing $224.2 million in outstandings in the past three quarters alone. This number is up 56 percent compared to this time last year. More financial institutions are choosing to partner with Elan over all the other outsourcing options because of its long-standing record of service, along with a superior product suite to meet the diverse needs of all customers. "As a leading partner to financial institutions, Elan is dedicated to providing the best possible credit card program," said Dan Roads, first vice president of Elan Financial Services, based in Milwaukee. "We are now finding that many more financial institutions are beginning to see the benefits of operating as an agent versus issuer. By partnering with Elan they are able to keep control of the customer relationships, which is essential, while at the same time delivering a highly differentiated credit card offering. This way they are staying in the credit card business at a more competitive level while limiting customer exposure to aggressive outside issuers." About Elan Elan Financial Services provides a complete range of products and services including credit card issuing, prepaid pre·pay tr.v. pre·paid, pre·pay·ing, pre·pays To pay or pay for beforehand. pre·pay  ment n. card solutions, ATM, debit card debit card, card that allows the cost of goods or services that are purchased to be deducted directly from the purchaser's checking account. They can also be used at automated teller machines for withdrawing cash from the user's checking account. and merchant processing. Elan is the largest agent credit card program in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. with more than 1,500 clients in 50 states. Elan provides processing services for more than 31,000 ATMs nationwide and supports more than 18 million ATM and debit cards. Elan also provides participation in the MoneyPass ATM network. In addition to an innovative product set, Elan also provides full-service support and management tools, which are secured with a unique Service Guarantee, to more than 3,000 financial institutions. For more information call 800-343-7064, or visit them online at www.elanfinancialservices.com.
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