Core providers serving banks and credit unions are already in the business of their customers’ success. By adding instant issuance to their suite of technologies and services, they have the opportunity to take customer commitment one step further.
Whether you’re a core processor, platform or management systems provider, the value of integrating a cloud-based, end-to-end instant issuance solution with your offering can prove significant for the issuers you serve. The following three benefits show precisely why delivering instant issuance via core integration is a win-win-win – for you, your customers and their customers.
Enhanced Customer Engagement
The ability to print and provide payment cards for customers onsite is a valuable capability for any financial institution, as the alternative is shipping via mail, which can take several days. By bringing instant issuance to issuers through a core integration, core providers allow them to respond quickly to customer requests for new and replacement cards. At a time when instant gratification is the norm, giving customers the ability to visit a branch and walk out with a new card – whether they’re a new accountholder, a member who lost their card or otherwise – is a critical convenience that strengthens engagement. Separately, it also frees up branch staff and creates a new touch point for customer interaction, giving them more time overall to spend serving customers. When customers can simply visit their branch when in need of a card, the branch staff can answer additional questions and provide related financial advice – potentially gaining an opportunity to deepen the customer relationship. For core providers, enabling these advantages for issuers helps them deepen their customer relationship.
1
No Dual Entry:
To achieve the singular goal of instantly issuing a card for immediate usage to cardholders, financial institutions are often required to manage card ordering and account maintenance from multiple locations, otherwise known as “dual entry.” Staff must handle another system and set of steps in the issuance process. Financial institutions that have instant issuance integrated with their core eliminate the extra steps of dual entry, providing them with a more seamless card issuance process while making for an accurate and quick delivery to customers.
2
No Additional IT Headache:
By integrating and streamlining instant issuance, core providers invest their IT resources to implement the solution through their core platform so that their customers can enjoy a more efficient experience – minimizing the need for IT resources from the financial institution or branch. A branch’s system is able to issue cards instantly through the core provider’s platform. And with the right integration partner, the entire program set-up and ongoing system maintenance for an instant issuance solution can be managed by the instant issuance provider. For a core provider’s customers, this means not having to dedicate any of their own IT or staff resources to support instant issuance – while still enjoying all its advantages.
Today, core providers across the country rely on Card@Once® from CPI Card Group® to extend the value of instant issuance to their customers. Card@Once is integrated with a number of cores and processors*, helping numerous banks and credit unions see remarkable cost-efficiencies and convenience at their branches.
*Integration requires the cooperation of the core provider. Not all core platforms are available for integration.
About the author
Rob Dixon
is CPI's Vice President, Digital & Business Development
Related posts
Ways to Build and Elevate Your Card Program
Today’s payment card environment is undoubtedly complex and competitive, but it pulses with possibility. Identifying a card program’s competitive edge is key to maintaining top-of-wallet
What You Need to Know About Building a Card Program Foundation
Building a solid card program foundation starts with a thorough evaluation of both the financial institution’s needs as well as those of its cardholders to ensure the right mix of solutions for both.
3 Ways Push Provisioning Works to Elevate the Digital Payments Experience
Extend your central and instant issuance strategy with a complementary digital payment solution to give cardholders the convenience and options they want. In February 2020,
Grow Your Revenue with Prepaid Debit Card Instant Issuance
What if you could make one change to your product offerings to potentially increase their activation and utilization, create a better customer experience, and simultaneously
