US Kentucky-based community lender Forcht Bank has partnered with Fiserv to upgrade its credit card portfolio.
Under the arrangement, the lender leveraged Fiserv’s Card Risk Office, uChoose Rewards and MyCardCreation card solutions. Overall, the solutions reduce fraud risks, increase customer loyalty and support community service.
The Card Risk Offices solution enables to monitor, manage and prevent card fraud.
Forcht Bank executive vice-president Chip Clements said: “Customers want the peace of mind that their credit cards are secure.
“After we introduced Card Risk Office Advisor, 2018 year-end figures showed a decrease in fraud losses of 1100 percent from the prior year in our credit card portfolio. A reversal that substantial is a significant win for us and our customers.”
The uChoose Rewards programme help in customer retention and supports increased card usage by offering valuable and flexible rewards.
Fiserv Card Services product strategy vice-president Chad Peck said: “Consumers seek, and use more regularly, the cards that enable them to earn rewards.
“Cardholders realise tremendous value from uChoose Rewards, which boosts cardholder engagement for financial institutions.”
The third offering MyCardCreation allows the bank to custom design cards to promote customer support.
With 24 branches across Kentucky, Forcht Bank has nearly $1.2bn in assets.