Today's consumers want their financial institution to offer services that align with their lifestyle, including great service, options and convenience.
The success of card-based payment methods presents an opportunity for banks to create true competitive differentiation for themselves. To stand out, financial institutions must incorporate innovative strategies and advanced technologies, like instant issuance for payment cards.
Instant issuance enables new and existing customers to walk into a branch and, within seconds, receive a fully-functioning, active payment card. For banks this creates opportunities to increase activation rates and interchange revenue. The sooner the card is used, the faster financial institutions can benefit from an immediate return on their investment. A recent analysis of one bank's use of instant issuance showed customers use their cards, on average, within the first 8 hours of receiving the card.