By Brian Scott Chief Growth Officer Primax Driving an Optimal Payments Experience When it comes to payments processing providers, banks don’t always know they have options outside their core processor. There are many innovative payments fintech providers that can offer more capabilities than a core processor – which means banks could be missing out on available features and benefits that could give them an edge with their cardholders. By partnering with providers who can offer a full suite of robust features – not just core processing services – the cardholder experience could improve significantly, driving further retention of your customers seeking these capabilities with their payments experience. This will also help to ensure you’re getting the most value for your investment. When considering the best payments processor for your bank, it’s important to look for top-of-the-line payments processing – as well as these seven capabilities that can help drive an optimal experience for your customers. 1. Integration enhances the user experience. An innovative partner will be able to collaborate with your IT team to ensure a seamless cardholder experience. Partners should look to build a relationship with core system providers to eliminate inefficiencies and streamline support services. Additionally, coordinating with technology partners, digital platform development teams and APIs will help provide the driving force for innovative changes, ultimately lowering operational costs and enhancing customer experiences. 2. Digital capabilities with user-centric framework. When it comes to mobile and online banking platforms, users want and expect personalization, flexibility and comprehensive card management tools. Features like alerts and controls, digital issuance, www.coloradobankers.org 20
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