Debit and credit payment cards are today's gateway financial products connecting consumers and their financial institutions, having largely replaced checking accounts – in fact, many new accounts opened by Gen Z and millennials don't even offer checks. Card programs offer banks opportunities to create stickier relationships, innovate using customer data analytics and a way to build fintech-proof customer loyalty. Unfortunately, many existing card programs are saddled with complex systems, multiple vendors and legacy technology that hold them back from tapping into modern innovations, such as mobile wallets, card controls, contactless cards and AI-powered personalization. Additionally, bank fraud is on the rise, making mitigation efforts more difficult and losses even higher, leading many banks to fall behind their peers. In this web seminar you will learn:
- What are the key obstacles limiting payment franchise growth at leading banks
- Why a modern payments platform can be a game-changer over a legacy platform
- What are the top spending priorities being used to accelerate payment franchises
- Why many banks have adopted a mobile app-first development and design approach
- How the role of digital wallets has evolved into a crucial program for all generations
- Why recent innovations such as contactless cards still have room for growth
- How important AI is to evolving payment programs and where banks see early growth opportunities to pursue
- How new tech can help eliminate both losses from fraud and friction in payment processing
