Re-posted with permission from CPI Card Group and edited.
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.
1. 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 account holder, 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.
2. 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.
3. 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.
Instant Issuance Solutions from the ISG
Today, core providers across the country rely on CPI Card Group® Card@Once® solutions from their local ISG dealer 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. Note that integration requires the cooperation of the core provider, and not all core platforms are available for integration.
Talk to your local ISG expert about your financial instant issuance needs and learn how Card@Once might work for you.
Original article written by Rob Dixon for Capture Technologies.
