MEMPHIS, Tenn., Nov. 16, 2004 (PRIMEZONE) -- First Tennessee Bank, part of the First Horizon National Corp. (NYSE:FHN) family of companies, is the first financial institution in the nation to be accredited by the AFP Service Code Accredited Provider Program.
The program helps banks' corporate customers quickly see how much they are paying for bank services and accurately compare one bank's fees with another's by standardizing bank compensation reporting. Established by the Association for Financial Professionals, the program requires that banks use AFP service codes and standardized language on analysis statements. The Association for Financial Professionals is working to increase standardization across the industry.
Determining exactly how much they're paying for bank services can be difficult for corporate financial officers, because the pricing is complex, and services are packaged differently at different banks, said Marilyn Hazzle, treasury management product manager, for First Tennessee. "Accreditation fits well with our goal of helping our customers understand what we're providing for them and making it easier for our relationship managers to describe our services and pricing. We've been using various AFP recommendations for three years, so moving into the accreditation program made perfect sense to us," said Hazzle. "This is a way our customers and potential customers can more easily determine what bank and what services offer the best value for them."
About First Horizon
The 12,000 employees of First Horizon National Corp. (NYSE:FHN) provide financial services to individual and business customers through hundreds of offices located in more than 40 states. The corporation's three major brands -- FTN Financial, First Horizon and First Tennessee -- provide customers with a broad range of products and services including:
-- Capital markets, with one of the nation's top underwriters of
U.S. government agency securities
-- Mortgage banking, with one of the nation's top 15 mortgage
originators and servicers, which earned a top-10 ranking in
customer satisfaction from J.D. Power and Associates
-- Retail/commercial banking, with the largest market share in
Tennessee and one of the highest customer retention rates of
any bank in the country
FHN companies have been recognized as some of the nation's best employers by AARP, Working Mother, Business Week and Fortune magazines. FHN also was named one of the nation's 100 best corporate citizens by Business Ethics magazine. More information can be found at www.FirstHorizon.com.