Today’s modern banking customers expect instant and seamless digital-first experiences. For example, did you know that more consumers are willing to switch banks to find the right digital experience that better fits their expectations? In a recent study Entrust conducted consumers told us the top factor that would make them consider changing their banks was digital solutions (65%). To meet their needs, it’s important for banks to offer their customers an instant and mobile-first banking experience.
One such digital experience banks should consider offering are digital card solutions, whereby a credit or debit card is issued digitally to the cardholder’s digital wallet (Apple Pay, Google Pay, Samsung Pay, Fitbit Pay , etc.). Digital cards bring activation and usage to the next level: higher customer acquisition, instant time of delivery, and may provide a reduction of card customer servicing costs or fraud reduction for digital-first transactions. This can however be challenging for banks due to complex integrations. When choosing a digital card issuance, solution, financial institutions should look for a unified card issuance solution, that offers simplified integration. A full range of card management and digital payment features can help a bank answer the cardholders need for a seamless payment experience, and to bring added value to the banking application.
Interested in learning more? Watch this on-demand webinar to learn more on how to offer a unified digital payment experience to your customers.