First Tennessee Bank has hired three treasury management professionals, two of them from SunTrust Bank, and relocated another from its Memphis operations. Moving over from SunTrust are treasury management sales officers Tammy Lea and Melinda Hagans, who spent the last 23 years and 35 years, respectively, at SunTrust. Also new to First Tennessee is client specialist Katie Burt, who has moved from Fifth Third, where she had worked since 2009. In addition, treasury management sales officer Emily Gotcher has moved to Middle Tennessee. She has 16 years of banking experience and has been with First Tennessee for nine of those.
Executives at First Tennessee say they will next year begin replacing customers' credit cards with chip cards, which have a much higher level of security. The bank's announcement came on the same day that JPMorgan Chase disclosed that it was hacked this summer and that information on 83 million accounts was compromised.
"There will be a period of adjustment for consumers," said Dondi Black, who manages retail payments for First Tennessee. "For example, chip cards are not swiped, but rather inserted into the terminal where they remain for the duration of the transaction." With some terminals, customers will be able to touch the EMV card to the terminal to complete the payment. First Tennessee's EMV cards will have this capability right away. "We believe customers are fatigued by numerous merchant breaches and will welcome a solution like ours that provides an additional layer of protection and makes the purchase process faster and more convenient," Black said.
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