Fidelity National Information Service Inc., known as FIS, has completed the conversion of Brazil-based Banco Bradesco’s 14 million bankcards, bringing the total number of cards FIS processes in Brazil to more than 40 million, the Jacksonville, Fla.-based company announced on Oct. 25.
Banco Bradesco previously processed its bankcards in-house. It now uses an FIS platform at Fidelity Processadora e Servicos S.A., FIS’s Brazil card-processing joint venture. The venture provides such processing services as call-center management, back-office support, risk management and collections, according to FIS.
The conversion is enabling Fidelity Processadora to provide card processing and card products for Banco Bradesco’s Visa Inc., MasterCard Worldwide and private-label card portfolios. It also enables Banco Bradesco to support the “rapidly growing card market in Brazil,” Arnaldo Vieira the bank’s executive vice president, noted in a news release about the portfolio conversion.
Over the past five years, Fidelity Processadora has grown the number of cards it has on file in Brazil by 37%, with credit card outstandings more than doubling, according to FIS.