Systems & Services Technologies, Inc. Selected by SunTrust as a Strategic Service Provider NCO Subsidiary to Provide Multiple Services to Bank's Strategic Asset Acquisition Group
HORSHAM, Pa., March 24, 2011 /PRNewswire/ -- NCO Group, Inc. ("NCO"), a leading global provider of best-in-class business process outsourcing solutions, is pleased to announce that NCO subsidiary Systems & Services Technologies, Inc. ("SST") has been selected by SunTrust Bank, Inc. ("SunTrust") as a strategic servicing provider for the bank's Asset Acquisition Group. SST will provide payment processing, collections, customer service, special recoveries, and remarketing services for SunTrust's consumer asset portfolio purchases.
Commenting on the relationship between NCO and SunTrust, Steven Leckerman, Chief Operating Officer of NCO, said, "NCO is pleased to have the opportunity to work with SunTrust -- a recognized leader in providing deposit, credit, trust, and investment services to a broad range of retail, business, and institutional clients. We look forward to working with SunTrust in its mission to provide world-class financial services for its customers."
SST delivers best-in-class service through outstanding technology, a highly-trained and experienced staff, as well as a comprehensive range of servicing functions. The relationship with SunTrust reaffirms SST's position as a premier full-service consumer loan servicer in the U.S.
NCO Group, Inc. is a leading global provider of business process outsourcing services, primarily focused on accounts receivable management and customer relationship management. With a network of approximately 30,000 employees, supporting the global market, NCO provides services through over 100 offices throughout North America, Asia, Europe and Australia.
Systems & Services Technologies, Inc. (SST) is a subsidiary of NCO Group, Inc. SST provides a full range of third-party servicing solutions (private label, co-branded, or as SST) including primary servicing for portfolio transfers, conduits and ABS, and back-up servicing to the ABS term and warehouse lending markets. SST has more than $15 billion in primary and back-up servicing under management. SST provides end-to-end loan servicing solutions across the credit spectrum for auto loans and leases, RV, marine, motorcycle, power sport, credit card, signature loans, manufactured housing and other consumer receivables.
SunTrust Bank, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of December 31, 2010, SunTrust had total assets of $172.9 billion and total deposits of $123.0 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is suntrust.com.
SOURCE NCO Group, Inc.