In the Cards: Getting into the Credit Card Business
Many community-based U.S. financial institutions (“FIs”) are facing a weighty dilemma.
How do they meet demands from their Board of Directors to more aggressively grow loan and fee-based portfolios while providing quality products and services for their customers and members, now that the economy is back on the upswing?
Few likely consider expanding their credit card program as a source for this growth, since the majority of community FIs don’t have the expertise or scale to run a profitable credit card program. Corserv helps community banks grow loan interest and fee income from a credit card program without adding resources.
That is exactly where they should be looking, thanks to an innovative business model from Corserv Solutions that offers turnkey yet customized credit card solutions. A typical Corserv client is an FI that wishes to offer or expand its credit card product to its relationship consumers and businesses, while controlling the customer experience at every key touch point.