In the financial world, competition has always been fierce. But as financial institutions face increasing margin pressure and strive to earn greater market share, this competition is rapidly intensifying. At the same time, technology has created a new financial consumer: empowered with information at their fingertips, today’s consumer brings heightened expectations for anytime-anywhere services and instant gratification.
These changes are accelerating the evolution of the financial landscape — presenting new challenges and new opportunities. And, as consumer’s expectations for on-demand service continues to rise, banks continue to meet consumer needs by integrating instant issuance into their branch locations. By doing so, branches are helping to drive incremental revenue for banks, increase top of wallet card placement and card activation, all while working to meet the increased demands of their customers.
A recent study by Javelin Strategy, sponsored by Entrust Datacard, shows that cardholders are 22 percent more likely to be very-to-extremely satisfied with their bank if they have received and instantly issued debit card instead of a card sent by mail.
Just that alone shows the impact that it can have on financial institution’s bottom line. The ability to deliver cards instantly to the consumer has provided financial institutions the ability to remain competitive in the anywhere, anytime world we now live in.
Thousands of financial institutions have already implemented instant issuance, which has successfully impacted their bottom line. To learn more about instant issuance capabilities, attend Entrust Datacard’s Instant Issuance Users Group, which will feature dedicated sessions about the payments landscape, what’s new in instant issuance, trends in the market, and much more. You can also read more about how Instant Issuance Can Boost Bank Revenue.