The Time for Instant Card Access with FIS Digital Issuance is Here
May 5, 2020
As the technical challenges of COVID-19 continue to evolve, the ability to provide safe member transactions within a stable payments infrastructure is essential. Meeting members’ needs during this time is about adaptability. The financial marketplace is already seeing a sharp rise in digital, contactless, and automated transactions in response to COVID-19, and for many, there’s no going back.
In today’s on-the-go society, members expect to have the ability to use their funds as soon as their paycheck arrives in their account. To do that, they need to have immediate access to their cards. With traditional card fulfillment, it can take up to 10 days to issue, mail, and activate a new card, which for members can feel discouraging.
FIS, the world’s largest global provider dedicated to financial technology, is here to offer credit unions help in meeting this emerging demand with its digital issuance solution. Digital card issuance allows credit unions to deliver credentials to a secure mobile application, like an e-wallet. The solution leads to increased cardholder loyalty and gives your credit union’s card “top-of-wallet” status, whether it’s in a physical or digital wallet.
Research indicates that e-wallets are gaining mass appeal with consumers because they’re safe and convenient. By keeping pace with consumer demand for faster, more convenient financial services, credit unions gain a competitive edge when they give members access to a card the same day rather than making them wait for a card to come in the mail days later.
Additionally, credit unions can increase security and address fraud concerns faster with a digital issuance option. When a card is lost, stolen, or compromised, getting a new one as quickly as possible is all that matters to members. Issuing a new card digitally to an e-wallet allows cardholders to continue to have access their funds with minimal interruption.
“In this rapidly shifting technological space, the solutions FIS offers can help credit unions remain on the cutting edge of quick, convenient service,” said Jason Smith, Vice President of Strategic Resources.
To learn more about FIS, visit its Strategic Link partner page or contact Jason Smith at 208-286-6794.