Case Study at a Glance: Celent Credit Cards as a Service
Pinnacle Financial Partners worked with Corserv Solutions to create a solution that enables U.S. community banks to offer comprehensive credit cards to their customers while owning the full P&L for the program. See the Celent announcement.
Traditionally, banks have two choices to offer credit cards: a direct issuer model that requires high upfront investment or an agent bank program, which gives away the relationship to another bank. Pinnacle’s new innovative solution leveraging Corserv’s digital technology allows a bank to issue credit cards in 120 days and have access to bank-branded portals and mobile apps for end-to-end servicing without having to add staff.
“We believe that packaging the necessary capabilities to enable others to offer financial products is at the heart of all Banking-as-a-Service propositions. The Account Issuer Program developed by Pinnacle and Corserv deserves to be wider known in the US banking community and is a deserving winner of Celent’s Model Bank 2022 award for Banking-as-a-Service.” – Celent’s Zil Bareisis, March 16, 2022