WYOMISSING, Pa., April 18 /PRNewswire/ -- Sovereign Bank announced
today a partnership with ADP(R) Small Business Services to offer payroll,
tax filing and other value-added services to its small business customers.
The partnership also calls for Sovereign to be a preferred Health Savings
Account (HSA) provider for ADP Small Business Services clients.
"At Sovereign we're committed to providing our small business customers
with convenient tools and services that will help them effectively manage
their business," said Joseph P. Campanelli, vice chairman of Sovereign
Bancorp. "ADP's extensive network and experience in providing broad payroll
solutions to employers worldwide will serve our customers well as their
businesses continue to grow."
Sovereign will refer ADP's integrated payroll solutions through its
Business Banking Relationship Managers and all of its branch offices
throughout the Northeast, in conjunction with 200 ADP sales professionals
dedicated to support Sovereign small business customers.
Payroll customers will have their choice of flexible data entry methods
- via phone, fax, or the Internet - and also receive signed payroll checks
and direct deposit vouchers. In addition, they gain access to a complete
set of reports to manage payroll information, as well as the support of a
highly trained customer service team. These offerings are complemented by
ADP's payroll tax services, which calculate, pay, and file federal, state,
and local payroll taxes.
Marshall P. Soura, executive vice president and managing director of
Sovereign's Global Solutions Group, said, "Managing employee administrative
tasks such as payroll can be time-consuming and expensive. We continue to
hear from customers that they value ease of doing business through
cost-effective solutions. By partnering with an industry leader we will be
able to deliver the most convenient, secure and cost-effective payroll
services to our customers. Sovereign has proven experience in aligning with
partners to provide value-added solutions to customers."
"We are pleased to be selected as the payroll provider to small
businesses for Sovereign Bank," said Alan Sheiness, president, ADP Small
Business Services. "ADP's comprehensive payroll solutions combined with
Sovereign's well-respected small business financial services provide small
business owners with the tools they need to make their businesses more
efficient, effective and profitable."
The ADP partnership is just one of a number of new services and
solutions that Sovereign Bank is introducing to redefine banking
convenience and promote productivity improvements for its customers.
Reinforcing its commitment to banking convenience, Sovereign has also
recently announced an Onsite Banking account opening service and a
partnership with OPEN(SM) from American Express to offer three new
co-branded American Express(R) Business Cards to small business customers.
About ADP
Automatic Data Processing, Inc. (NYSE: ADP), with $8.5 billion in
revenues and approximately 590,000 clients worldwide, is one of the largest
providers of a broad range of premier, mission-critical, cost-effective
transaction processing and information-based business solutions. ADP
Employer Services (ES), a division of ADP, Inc., offers the widest range of
HR, payroll and benefit administration solutions from a single source, to
meet the extensive business needs of employers worldwide. Built with more
than 50 years of industry experience, ADP ES' cost-effective, easy-to-use
solutions provide superior value to companies of all sizes. More than
536,000 companies rely on ADP ES for unparalleled service and compliance
expertise, allowing them to focus on other core activities. For more
information about ADP ES or to contact a local ADP sales office, reach us
at 1.800.225.5237 or visit the company's Web site at http://www.adp.com.
About Sovereign's Global Solutions Group
Sovereign Bank's Global Solutions Group (GSG) provides a full array of
traditional and innovative cash management and trade services to fulfill
the global needs of businesses and institutions. GSG services include
collections, disbursements, short-term investments, payroll, merchant
services, letters of credit, documentary collections, trade finance, and
interactive reporting and transaction initiation.
About Sovereign Bank
Sovereign Bancorp, Inc., ("Sovereign") (NYSE: SOV), is the parent
company of Sovereign Bank, a $64 billion financial institution
headquartered in Wyomissing, Pa., with more than 650 community banking
offices, over 1,000 ATMs and approximately 10,000 team members with
principal markets in the Northeast United States. Sovereign offers a broad
array of financial services and products including retail banking, business
and corporate banking, cash management, capital markets, wealth management
and insurance. Sovereign is the 18th largest banking institution in the
United States. For more information on Sovereign Bank, visit
http://www.sovereignbank.com or call 1-877-SOV-BANK.
Sovereign Bank, its logo and lantern are service marks of Sovereign
Bank or its affiliates or subsidiaries in the United States and other
countries.
SOURCE Sovereign Bank
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Related links:
http://www.adp.com
http://www.sovereignbank.com
CONTACT:
Ellen Molle, Sovereign Bank, +1-617-757-5573,
Cell: +1-617-548-9932, emolle@sovereignbank.com
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