BlogsHow to Level Up Your Instant Card Issuance
Maintaining positive customer relationships can be challenging for banks. In today’s digitized world, many consumers expect prompt service across virtually all sectors, including banking. Unfortunately, it can take several business days for banks to issue customers’ all-important ATM cards after opening a new account. As well as reviewing applicants’ details, banks must manufacture the cards, issue a secure PIN, and mail the card to the recipients’ address. All in all, this can take several business days, much to customers' frustration.
Times are changing, however. Thanks to the introduction of self-service card issuance machines, banks can onboard account applicants within minutes, enhancing their relationships with customers and improving their overall brand image. If you’re a finance professional, we’ve put together a quick guide to leveling up your card issuance with this transformative technology.
How does instant card issuance work?
When a customer approaches an instant card issuance machine, they will be presented with a list of options, including opening a new account. After they have selected this option, the machine will prompt them to verify their identity and details. Then, it will issue a new ATM card for the customer. The process is swift, simple, and secure.
In terms of verification, the process can take several forms, including:
- Know-Your-Customer (KYC) verification: This process allows customers to verify their identity with an ID card, passport, face recognition software, or biometric verification (such as fingerprint scanning).
- Artificial Intelligence (AI) verification: This involves capturing a picture of the customer and automatically matching it with a scanned ID picture.
- Video calling: If the automated processes above fail to verify your customer’s identity, some machines can video call a customer service agent for assistance. In such a case, the remote agent will gain full control of the machine to ensure that the customer has input the correct details and that the customer is who they say they are.
What are the benefits of card issuance kiosks?
Wondering whether card issuance kiosks are cost-effective? Here are just a few benefits to expect:
1. Instant 24/7 access to banking services
Card issuance kiosks typically come with a host of other features designed to improve the customer service experience. These features may allow the customer to:
- Deposit cheques
- Print cheques
- Send a remittance
- Print bank account statements
- Withdraw cash
- Pay bills
- Transfer money between accounts
- And much more
2. Lower issuance costs
Mailing a new ATM card can be costly and slow, leading to reduced activation rates. With an automatic issuance kiosk, you can minimize costs while improving activation rates and reducing your bank’s use of physical resources.
3. Higher acquisition of new customers
Today’s customers enjoy swift and efficient services that make the most of modern technology. With an issuance self-service kiosk, you can help your organization stand out from the crowd and attract a high number of new customers. Even better, the convenience and speed of the kiosk mean you can mitigate bank queues and make the in-store experience more pleasant.
4. Increased market reach
Banks can install card issuance kiosks anywhere, allowing them to increase their market reach and onboard more customers than ever before.
5. Elevate the customer experience
Instant card issuance represents the pinnacle of excellent customer service in the banking industry. As well as eliminating frustrating waiting times, an issuance kiosk offers customers a remote face-to-face service that will resolve any potential issues.
Onboarding with an automated kiosk is highly efficient and allows customers to take control of their banking experience. Existing customers also benefit from instant card replacement when their current card expires. What’s more, instant issuance means that banks don’t have to mail sensitive PINs to their customers, thereby reducing the risk of fraud.
Supercharge your issuance processes with SEDCO
Are you keen to embrace the future and make the most of automated card issuance? SEDCO is here to help. Our instant card issuance self-service machines can verify new customers and create fresh ATM cards in a matter of minutes. These machines can issue a range of card types, including debit cards, credit cards, and subsidiary cards.
As well as boosting customer satisfaction rates, SEDCO’s self-service solutions will enhance how you collect business intelligence. You can monitor all machines remotely via live dashboards and maps to track performance, allowing you to keep a close eye on key metrics affecting your organization’s profitability. The solution will automatically analyze all data collected via the issuance machines, generating actionable business insights that help you reach organizational goals and remain competitive. Key report types generated by the solution include:
- Card Inventory Management Report
- Transactions Detailed Report
- Revenue Growth Analysis
- Kiosk Visits Report
If that weren’t enough, SEDCO’s issuance machines can also issue several other card types, including driving licenses, SIM cards, vehicle licenses, travel cards, subscription cards, healthcare cards, and loyalty cards.
For more information about our machines or to discuss purchase options, please do not hesitate to contact us today. One of our team members will happily discuss your needs in detail.