ciq ciis marketing_4_gen.2015
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CubeIQ Ltd. 78 Vyzantiou St. 14234, N. Ionia, Athens Greece Tel: (+30)-210-9530242, Fax: (+30)-210-6255672 Email: [email protected] Web: www.cubeiq,gr
Why bank branch card issuance? Central issuance is still the cost effective solution for many institutions in the financial market. However, there is a number of key points that drive to a remote card issuance solution:
Customer relationship: Key opportunities for marketing and building customer relationships are lost in the 4-6 week between “selling” the card product and delivering the card.
Card Usage: While 80% of bank customers have ATM cards, only 48% ever use them.
Slippage: MasterCard™ loses of 50M+ annually; VISA™ loses 65M+ annually due to cards that are never received in the mail
Key benefits of bank branch card issuance. Cards handed immediately to the customer
Increased customer satisfaction
Increase customer acceptance in card usage
Eliminate mailing cost
Minimize operating cost
Increase card program visibility
Provide cross sell opportunity
Increased ATM usage
Increase customer confidence in ATM usage
Improve branch sales and marketing of card program
Build stronger relationship with the customer
Faster time - to - market for new products
Offer better quality of service
Differentiate from other retail banks
Upgrade the «image» of the bank demonstrating a higher level of branch automation
Why haven’t banks been doing this all along? Suitable card personalization system simply cost too much for most banks or credit card companies to put into multiple branches. Contemporary Financial card personalization machines have 1/3 of the cost of other systems without sacrificing performance.
Return on investment based justification When customers were asked to estimate how much it cost to issue cards through a third party service bureau, their replies ranged from 1.60€ for an ATM to 2.60€ for debit/credit card. This estimate includes: database maintenance, personalization, customized mailers, postage, customized follow up PIN mailer, more postage and help-desk facilities provision.
In comparison, for banks issuing 8 cards per day, contemporary financial card personalization machines will produce a card for just 2.52€ (calculated for
Card Issuance
Marketing Strategies
CubeIQ Ltd. 78 Vyzantiou St. 14234, N. Ionia, Athens Greece Tel: (+30)-210-9530242, Fax: (+30)-210-6255672 Email: [email protected] Web: www.cubeiq,gr
200.000 cards per year). This includes the cost of the system, lifetime supply of ribbons, card stock, and annual service (calculation does not included integration cost). That means that a bank or credit card company accustomed to paying 4.60€ per card will realize a payback in less than 1 year.
CubeIQ solutions, products, services and expertise are helping leading banks, financial institutions and independent service providers around the world to achieve their business goals. Learn more about how CubeIQ can have a significant and positive impact on your organization’s operations.
For more information
CubeIQ Ltd. 78 Vyzantiou St. 14234, N. Ionia, Athens Greece Tel: (+30)-210-9530242, Fax: (+30)-210-6255672 Email: [email protected] Web: www.cubeiq,gr