MIB Signs Contract With MSP Consulting to Deliver Merchant Credit Card Services

Jan 18 - Midwest Independent Bank has selected MSP Consulting as its exclusive preferred provider of merchant credit card services leveraging its unique and proprietary solution, MSP Advantage. MSP Consulting was selected based on its ability to deliver tangible measured value to banks and banks' commercial customers.

MSPAdvantage is a processor-independent solution, which allows banks to offer customized, tailored solutions for their commercial customers. The solution leverages deep industry expertise and negotiated pricing to drive greater than 20 percent cost savings for commercial customers, while also improving the bank’s fee income. Backed by market-leading support and ongoing account monitoring, banks are assured their customers are well cared for, meaning improved customer satisfaction and long-term relationships for the bank. MSP Consulting boasts a 96 percent customer retention rate. 

MSP Consulting was founded in 2003. Based in Overland Park, Kan., MSP Consulting services thousands of clients across the United States. 

Midwest Independent Bancshares Inc. is the bank holding company of Midwest Independent Bank, which is wholly owned. MIB is a bankers’ bank that provides a wide array of correspondent banking services to more than 600 financial institutions throughout the Midwest. MIB is based in Jefferson City, Mo., and Nebraska Bankers’ Bank, A Division of Midwest Independent Bank is based in Lincoln, Neb. MIB Inc. also offers auditing, training and consulting services to community banks through MIB Banc Services LLC and is the majority owner of First Bankers’ Banc Securities Inc. FBBS offers investment products to community banks in 25 states.