“Effective Oct. 14, 2016,” PYMNTS.com reports, “any bank [or credit union] that issues a Visa-branded card must give cardholders the option to register for alerts related to any transaction processed by Visa, Interlink and Plus. The deadline for Mastercard issuers not subject to the Visa requirement is April 21, 2017.”
Idaho Central Credit Union is not only complying, it is thriving with a robust, value-added benefit for cardholders.
CardNav by CO-OP is now integrated with the mobile banking application of ICCU. This gives members a tool to control their credit and debit card usage, and receive alerts, to proactively protect themselves from fraud – all with an elegant, convenient user experience as the functionality is contained within a single app.
Using the CO-OP application programming interface (API) to integrate CardNav into the ICCU Mobile Banking app, the function is entirely ICCU-branded and available to members as ICCU CardControl.
“Every week it seems consumers hear about another major instance of data breaches, with the resulting personal fear of identity theft,” said Kent Oram, President/CEO of ICCU, based in Chubbuck, Idaho, and with more than $2.7 billion in total assets. “CardControl sets us apart from other financial institutions in that it gives members something powerful and innovative they can use to protect themselves. We think we can lead with this to help us grow via attracting new members and by greater interaction with current members.”
A solution inside of CO-OP API Suite, CardNav was introduced in 2014 as a standalone mobile app that lets credit union members manage their cards on the fly. The app allows members to set preferences for when, where and how their cards are used, get near-real-time alerts and push notifications, and turn their cards off or on with a single touch. Now available as an API, credit unions can take advantage of CardNav functionality by offering it to members as part of their own mobile apps.
“We want everything we roll out to look and feel like Idaho Central,” said Oram. “With the CardNav API, we are able to present consistent branding for ICCU, a ‘one stop’ feel for all member mobile banking needs, and provide members with a technology-advanced solution while at the same time avoiding ‘app overload.’ They have one more reason to love ICCU.”
CardNav, like the other apps in the CO-OP API Suite, offers seamless back-end integration, allowing for simple management and connectivity to existing programs. With the CO-OP API Suite, credit unions can cost-effectively expand their digital delivery platforms to meet growing member demand, while retaining the flexibility to add only those functions that work best for them.
A Multi-Faceted Launch Campaign
A key part of ICCU’s launch strategy for CardControl is a multi-faceted marketing and promotional campaign that utilizes both mainstream and social media, according to Michael Watson, Marketing Manager. The campaign started in September with a more traditional marketing eblast resulting in more than 800 members almost immediately signing up for CardControl on ICCU’s website landing page.
Watson pointed out that the campaign encompasses extensive internal communications designed to fully inform the credit union’s staff at its branches and member call center. For member-facing communications, in addition to the email distribution, promotional “video walls” in each of ICCU’s 28 full-service branches feature CardControl advantages, and collateral advertising material was updated to include the new service.
Watson says CardControl is going to be a signature service that will help position ICCU as a leader in the state’s financial services industry.
ICCU also produced a 30-second television commercial that was broadcast throughout Idaho. A longer version of the TV spot was produced for placement on YouTube as part of a broad digital effort that included Google ads, and promotion via the credit union’s Facebook page and Twitter.
“We are covering our market area with the message that CardControl puts our members in control of their card and how it’s used,” said Watson. “CardControl is a wonderful product and will make a real difference for our members.”