26 Hoosier Banker January 2016 PSP SHOWCASE About the Author Rod Lasley is vice president-products & services of the Indiana Bankers Association, and also serves as president of the for-profit companies owned by the IBA. He can be reached at 317-387-9380, email: rlasley@indianabankers.org. The SHAZAM Network: Owned by Banks, Operated by Experts The SHAZAM Network has been a Preferred Service Provider of the IBA for many years. As an electronic payments network, its serves more than 1,500 community banks in 33 states. Over 35 years ago, SHAZAM’s founders developed an efficient, cost-effective way for community banks to process electronic payments; additionally the company developed a network of those participating institutions to create a strong, collective voice in the electronic payments industry. SHAZAM is a not-for-profit corporation, with participating bank chief executive officers serving on its board of director, and the company’s primary financial interest is in helping banks compete. One means is by reinvesting bank’s success in development of new products and services, as well as providing periodic price reductions, allowing banks to compete with nationwide financial institutions. With the company’s cooperative business model, bank customers are partners with SHAZAM. This industry has dealt with so much change in recent years, and innovation takes place so quickly, that the challenge is to understand which technologies to embrace, and which to reject. SHAZAM meets that challenge head-on, fully committed to bringing clients only those products that have true businessstrengthening potential. Banks that combine their outstanding personal customer service with SHAZAM’s electronic payments technology and convenience have the ideal formula for maintaining customer loyalty and retention in the marketplace. SHAZAM offers a range of products to help banks succeed in the electronic payments business and remain competitive, including both PIN and signature debit card personalization with color photos; HSA cards; and card authorization services that allow banks to issue and activate cards and to authorize transactions based on up-to-theminute balance information. SHAZAM also provides security features ‒ including Falcon and Falcon Real-Time ‒ that protect against fraud by tracking customer habits and making risk determinations based on those habits. Additionally the company provides a mobile app, SHAZAM BOLT$, through which banks can alert customers to potentially fraudulent transactions, allowing them to notify the bank quickly to stop further fraud. This app also allows customers to access their card balance information from wherever they are. SHAZAM not only provides this competitive electronic payments solution, it also can assist in the marketing of the program to maximize customer usage and provide rewards programs for customers to win prizes based on customer usage. Clearly SHAZAM is focused on helping community banks survive and succeed in this challenging area of electronic payments. With its cooperative ownership structure, The SHAZAM Network succeeds when its bank partners succeed, the company’s directors are bankers who share the values of the Indiana banking community. For more information regarding SHAZAM and its opportunities, please contact Ken Diekemper at 800-844-7715, ext. 4366, kdiekemper@ shazam.net, or Rod Lasley at the IBA, 317-387-9380, rlasley@ indianabankers.org. t
RkJQdWJsaXNoZXIy MTg3NDExNQ==