Gemalto and Entrust Datacard team up
08 February 2018 17:49 GMT

Gemalto has joined forces with Entrust Datacard to provide a SaaS-based instant issuance solution for US financial institutions.

The two firms say: “In 2006, instant issuance began to penetrate the payment card industry, and banks were presented with the opportunity to set themselves ahead of their competition by providing consumers with a higher level of service and differentiated products. With additional benefits to the solution, it has now become critical for financial institutions to integrate instant issuance into their portfolio.”

Research from Aite Group reveals that from 2017 to 2021, the number of North American financial institutions who have implemented instant issuance will jump from 3,312 to 5,483, representing 55% market adoption. 

The two firms say that by coupling Entrust Datacard’s instant issuance solution with Gemalto's SaaS platform, the barriers of entry are lowered so that financial institutions of any size can profit from the many benefits of a SaaS-based instant issuance solution. 

They add: “With complete control over card delivery, the wait for a new card – whether for normal issuance cycle or because of loss or theft – is practically eliminated. Instead, banks can now use that gained time to focus on customer relationship, improve engagement and cross-sell additional products and services.

“Furthermore, cards instantly issued in the branch have proved to increase activation rates by 82% and usage rates by 32%. Combined with the cost savings linked to reduced waste and postage, but also to IT overheads thanks to SaaS-based seamless implementation, financial institutions can see an uptick in profit.

With the combined solution, Entrust Datacard's instant issuance printers are installed and set up at the branch. EMV cards can then be personalised and printed on-demand while the issuance software is hosted by and remotely managed from Gemalto's secure, cloud-based SaaS infrastructure.  

“With both Gemalto and Entrust Datacard's strong experience in the banking and payment industry, we've been able to apply that expertise to bring instant issuance to market,” says Paul Kobos, SVP Banking and Payments, North America, Gemalto. “The SaaS aspect really sets the solution apart from others in the field, and financial institutions of all sizes will be able to reap the benefits."

Karen Kaukol, vice president of Instant Issuance at Entrust Datacard adds: “With a SaaS-based instant issuance solution, we are able to not only provide financial institutions with the ability to instantly meet their customer's needs, but do it in a manner that drives retention, and increases activation and usage rates, all while reducing the overhead expenses to the bank.”?