Digital Transactions: Columbus, Ga.-based bank-holding company Synovus Financial Corp. last week said it would consider spinning off its processing subsidiary, Total System Services Inc., to Synovus shareholders. Assuming a spin-off eventually happens, TSYS will have played a key role in 2007's major processing-industry restructuring that will take companies like First Data Corp. and Alliance Data Systems Corp. private, while setting TSYS and Metavante Corp. free from bank ownership. It's not easy for banks to own processors, insiders argue, because funding a processor's growth strains the bank's capital, which is subject to federal regulation.
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