A white label app that gives card holders an array of alerts and controls, including the ability to turn on and off their accounts, has earned Fiserv the distinction of Top Innovator for Mobile in Callahan’s 2019 Innovation Series.
“Being recognized for innovation and expertise means our focus is in the right place,” says Yosepha Solomon, product analyst/ advisory for the Wisconsin-based company. “Our culture is aimed at enabling our clients’ success and helping them drive value for their customers. We would like to say a big ‘thank you’ to everyone who voted for Fiserv.”
The CardValet Client Branded App — which Fiserv introduced in February 2018 — integrates with a credit union’s mobile banking app and offers card alerts and controls to protect the plastic in members’ physical as well as digital wallets.
Being recognized for innovation and expertise means our focus is in the right place. Our culture is aimed at enabling our clients’ success and helping them drive value for their customers.
In addition to receiving alerts on where, when, and how their card is used, members can define card transaction regions, require a card to be in the same geo-location as the member’s mobile device, or block all transactions within a certain merchant category, such as entertainment, or that exceed a self-defined spend limit. Other controls include allowing account holders to control who uses the card — for example, a teenager in the household. Altogether, the app raises the bar for member engagement in card security.
“CardValet was created to give consumers a direct stake in protecting their accounts,” Solomon says. “It enables financial institutions to enlist their cardholders in the fight against fraud via expansive alerting and card control capabilities.”
Financial institutions and their debit and credit card users continue to face evolving fraud threats, card misuse, and high-profile financial information and data breaches. CardValet gives credit unions and their members a tool to tackle all this and more.
On the back end, CardValet offers a series of features that allows an institution to present a flawless brand experience. Customizable features allow a credit union to create an icon, select layout options, include a logo and card art, and post the app in their app stores.
Far from being just another offering, Fiserv underscores the important role CardValet can play in onboarding new members. When a new member walks into the branch and opens an account, a credit union can issue a card and walk the member through the cooperative’s mobile app, online site, and CardValet. This is the kind of white-glove treatment that builds engagement at the onset of the relationship.
This article appeared originally in Credit Union Strategy & Performance. Read More Today.