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BankPlus Gains Instant Success with Instant Issuance

By Alyssa Arredondo, Marketing Director of Financial Instant Issuance

Oct 3, 2012
 

The Challenge:

BankPlus was founded in 1909 as Citizens Bank & Trust Company (CB&T), in Belzoni, Mississippi. In the last decade, BankPlus has grown from $156 million to over $2 billion in total assets. The bank currently has over 60 offices in 33 Mississippi communities. BancPlus Corporation is the parent company of BankPlus.

Several years ago, the bank was mailing thousands of Visa check cards each month, and it was taking from five to seven days for customers to receive their cards.  As a result, the cards were rarely used in the first few weeks after a new account was opened. Existing customers were unhappy that they had to wait a week to get replacements for lost, damaged or stolen cards.  Customers continued using cash and checks, and the bank continued to incur the expense of temporary ATM cards and check processing while customers waited for their cards to arrive by mail. The bank was looking for a solution that could improve the customer experience, while encouraging electronic transactions immediately at the origin of a new banking relationship. 

 

The Solution

BankPlus reviewed proposals from several providers that offered instant issuance systems.  The bank focused on the following capabilities:

  • Ability to integrate the system with FIS, the bank’s host processor. The bank sought an enterprise system with a single server “engine” that could connect to host applications and support the bank’s network of branches, and support instant card activation with Visa DPS for signature-based debit transactions.
  • Ease of implementation at the branch level.  The bank wanted a system that required minimal operational support, while offering comprehensive management tools for reporting, security, and system monitoring. 
  • Security features and compliance with Visa’s security standards that met CISP/PABP qualifications.
  • The vendor’s track record with large scale programs. The bank wanted a proven technology partner and industry leader.
  • Ability to support unembossed printing technology.

 

Ultimately, BankPlus selected Datacard® CardWizard® instant issuance software and a Datacard® instant issuance financial card printer because of the features it offered. CardWizard software was both easy to implement and compatible with the bank’s card management infrastructure.  The bank felt that the CardWizard software offered the best security features. Finally, the card printing technology of our instant issuance financial card printer produced state-of-the-art unembossed cards that the bank felt would make the program a success.

 

Benefits

State-Of-The-Art Card Printing

By printing cards instantly in branches with Datacard instant financial card printing technology, BankPlus can now, in minutes, instantly issue new and replacement debit cards to both consumer and business customers, improving customer loyalty and retention.

Reduced Costs

With instant issuance, the bank no longer needs to issue temporary, ATM-only cards to new customers. The postage and handling expense associated with mailing new check cards and PIN mailers has been eliminated.  Check processing expenses have been reduced because new customers leave the branch able to perform signature-based transactions immediately, instead of having to write checks while they wait for their cards to arrive by mail.  The CardWizard software enables BankPlus to have complete control over the card replacement process for lost, stolen and damaged cards, eliminating the special handling expense associated with “rushed” card orders. 

Enhanced Customer Experience

The CardWizard software has provided exciting brand differentiation for BankPlus and given the bank a competitive advantage over  other financial institutions. Datacard has provided an innovative solution that has enhanced the customer experience.  The bank is now able to combine personal, in branch customer education with instant issuance to encourage immediate card usage and at the same improve customer experience.

Have you received an instantly issued financial card from your bank or credit union?

 

Case study created in partnership with Runge and Company (www.rungeandcompany.com). 

 

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About Alyssa

Alyssa Arredondo joined Entrust Datacard in 2009 and is currently the Director of Financial Vertical Marketing. Her focus is on branch transformation, central and instant issuance of payment cards and financial market trends. Prior to joining Entrust Datacard, she spent 13 years in the financial services industry at HSBC and US Bank where she managed several large co-branded credit card portfolios. She is fluent in French and has an MBA in International Marketing.

View all articles by Alyssa

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