Truist is a large US-based commercial bank and was formed from the 2019 merger of Branch Banking and Trust Company (BB&T) and SunTrust Banks. TSYS had an existing agreement with SunTrust prior with the merger that created Truist. The company is providing its TS2 processing platform on top of its card and statement production functionalities.
The bank operates 2,049 branches in 15 states and offers both consumer and commercial banking, securities brokerage, asset management, mortgage, and insurance products and services.
Truist is expected to begin conversion-related activities in late 2021 to begin utilising TSYS’ issuer processing services in 2022, according to Fintech Futures.