July 2018

gmimick's picture

Today, banks and credit unions are challenged to outperform their competitors in the services they provide customers. Financial Institutions need to look to the future and transform the manner in which they deliver products and services that will help them retain their customers and attract new ones.

They’re also confronted by security threats and continuously having to keep up with new technologies that will not cost them a bundle or break down their existing infrastructure.  What’s a bank or credit union president to do?

One new trend I’ve observed in banking is Financial Instant Issuance or Fii, which is the instantaneous, in-branch personalization, issuance and activation of the Financial Institution’s payment cards.  It allows customers to enter their preferred bank or credit union and instantly receive activated debit and/or credit cards on-site and ready-to-use.

Eureka!  Financial Institutions giving their customers added service and easy access to their money accounts while improving the bank’s revenue stream and profitability.  Customers don’t need to wait 7-10 days to get a debit or credit card in the mail after applying online---the card can be used immediately----just the way customers like it. 

Financial Institutions don’t have to wait either, as they can reap the benefits of an activated card by increased interchange revenue and begin right away to recoup their costs for issuance.  Financial Institutions achieve predictable ROI more rapidly with reduced risk and at significantly lower costs.  It seems to me that everybody wins!

We’ve written an executive brief that goes into additional details and points out the considerable benefits of Fii---including a solution that will have banker’s kicking up their heels in joy once they realize there’s help in installing this system as a service for their customers.

If you have interest in reading more about the benefits and opportunities using Fii, please read the executive brief “Financial Instant Issuance – A Growth Strategy for Today’s Financial Institutions”---to learn how Fii may be an answer to improving revenue and more fully satisfying Financial Institution customers.  Once you’ve read the piece, give me shout back with your ideas and comments----I’d like to hear from you.

For additional information regarding the affordability, efficiency and security of implementing Financial Instant Issuance, please also be sure to check out our eBook debunking “The Top 5 Myths about Financial Instant Issuance”.