Yesterday’s announcement made it official, Alliance and AisleBuyer have formed a partnership to continue the evolution of the everyday consumer shopping experience. AisleBuyer’s logo includes the phrase “never wait in line again,” and the mobile self-checkout technology AisleBuyer has developed does indeed back up that statement. We believe AisleBuyer will fundamentally change the in-store consumer shopping experience and that our knowledge within the market will only help to serve that goal.
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1. Lowering costs to operate your card programs: The benefits of re-allocating your current capital resources would contribute to your growth potential with out having to invest more money.
2. Reduction of delinquency and loan loss associated with unsecured card products: Risk mitigated is the key to a successful payment card program.
3. Streamlining operational efficiencies and card technology: Many card issuers are partnered with antiquated processor platforms or utilize a separate processing platform for credit and debit, which can be inefficient and costly.
4. Offering a competitive card product: Investment in card offering upgrades and rewards programs will allow your institution to offer a compelling card product.
5. Increasing card utilization and profitability: Your investment in the performance of your card programs will increase card usage and improve the ROA for your institution.
A few questions you credit union executives may want to ask yourselves:
1. Are costs increasing to operate your card program?
2. Is your card product offering competitive compared to other card issuers?
3. Do you have a plan to address the increasing cost of fraud claims?
4. Is your bond insurance premium set to increase?
5. What is your credit union’s tolerance for risk?
6. Is forming an agent card partnership right for your credit union?
I am sure your airline has a cobranded card, and you may even have a large number of customers who use their card regularly. But, are you sure your card is working as hard for you as it should and that it is bringing in as much revenue as it possibly can? If you are not 100% sure about the performance of your card being optimized, take a look at these four reasons it is important to continuously evaluate your program.