32 SEPTEMBER / OCTOBER 2017 Article author Rod Lasley Vice President - Products & Services Indiana Bankers Association rlasley@indianabankers.org @rodlasley PSP SHOWCASE The SHAZAM Network, a longtime Preferred Service Provider of the Indiana Bankers Association, is an electronic payments network serving over 1,500 community banks in more than 30 states. Over 35 years ago, SHAZAM’s founders developed an efficient, cost-effective way for community banks to process electronic payments, and they developed a network of those participating institutions to create a strong collective voice in the electronic payments industry. As a not-for-profit corporation, with participating bank CEOs on its board of directors, the primary financial interest of The SHAZAM Network is in helping banks compete. One way of helping is by reinvesting banks’ success in the development of new products and services, as well as providing periodic price reductions, allowing banks to compete with larger nationwide financial institutions. In the banking industry, innovation happens 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 partner banks only those products which have true potential to strengthen banking business. By combining your bank’s outstanding personal customer service with the best technology and convenience in electronic payments from SHAZAM, you will have the right formula for maintaining customer loyalty and retention in your marketplace. SHAZAM has a broad selection of products to help banks succeed in the electronic payments business. It offers all of the services needed to remain competitive, including both PIN and signature debit; card personalization with color photos; HSA cards; and card authorization services, which allow banks to issue and activate cards, and authorize transactions based on up-to-theminute balance information. The SHAZAM Network also provides a variety of security features to protect against fraud, including Falcon and Falcon Real-Time, which tracks customer habits and makes risk determinations based on those habits. It also utilizes a mobile app, SHAZAM BOLT$, to alert customers to potentially fraudulent transactions. This app additionally allows customers to access their card balance information wherever they are. SHAZAM not only provides this competitive electronic payments solution, it also has the ability to assist in the marketing of the program to maximize customer usage and provide rewards programs for your customers to win great prizes based on the customer’s usage. SHAZAM is focused on helping community banks survive and succeed in this challenging area of electronic payments. Over the last several years, SHAZAM has seen great success. Its transaction volume has increased 23 percent within the last five years, with one month exceeding 88 million transactions. While experiencing these achievements, the company also has reduced pricing over $16 million in the past three years, and it continues to provide exceptional offerings, including 18 free products or services. With its cooperative ownership structure, SHAZAM succeeds when participating banks succeed. Your voice will be heard, because the members of the SHAZAM are fellow bankers, and the values that make your All Things Payments There is an answer
RkJQdWJsaXNoZXIy MTg3NDExNQ==