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HARRIS, PRISM TEAM TO OFFER NEW CHARGE CARD PROGRAM TO WEST COAST MARKETS

 HARRIS, PRISM TEAM TO OFFER NEW CHARGE CARD PROGRAM
 TO WEST COAST MARKETS
 CHICAGO, Nov. 9 /PRNewswire/ -- Harris Trust and Savings Bank, Chicago, and Prism Processing Service, Inc., Fair Oaks, Calif., have announced a partnership to market merchant bankcard and credit card products to financial institutions on the west coast.
 The program is tailored for financial institutions that want to provide charge card services to local merchants and consumers, but do not have full-scale card operations of their own.
 Under the plan, Prism will market the service to west coast banks and provide a comprehensive technology package. Harris Bank will provide processing of other related products that enable the local financial institutions to offer a full range of services to their merchant and consumer customers.
 The partnership solves a problem that is common for many banks. Wayne L. Keddy, Prism chief executive officer, who has 17 years of experience in the bankcard industry, said, "Many community and regional banks cannot allocate the considerable resources required to perform bank card processing because they do not have the economies of scale that larger banks enjoy."
 He said that banks that regard bankcard services as "just another service" are overlooking valuable cross-selling opportunities that come from a strong merchant and cardholder base.
 Kenneth R. Keck, executive of Harris' Bankcard Department, said the partnership gives Harris an opportunity to expand its agent bankcard program.
 "Through this arrangement, Prism will be able to capitalize on the resources of an organization that already has the expertise, reputation and experience demanded by the marketplace," Keck said. The Prism- Harris partnership already has been a success with 12 California banks.
 Harris, Chicago's third largest bank, has $14 billion in assets and recently announced record third quarter earnings gains of 13 percent. The organization is marking its 110th anniversary this year.
 -0- 11/9/92
 /CONTACT: Nancy Raschke of Harris Bank, 708-520-6421, or Wayne Keddy of Prism, 916-961-8184/ CO: Harris Trust and Savings Bank; Prism Processing Service, Inc ST: Illinois IN: FIN SU:


WB -- NY059 -- 8687 11/09/92 11:56 EST
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Publication:PR Newswire
Date:Nov 9, 1992
Words:343
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