Card issuers are looking to modernize and digitize their operations, preferring to have a single provider for core banking and processing functions.
Modernization efforts, including upgrading back-end processes for transactions and regulatory compliance, are essential for capitalizing on digital shifts such as the issuance of virtual cards.
High-performing issuers are adopting various modernization methods to enhance customer lifetime value by offering automated issuance to digital wallets and account upgrades, leading to new revenue streams.
Financial institutions, including banks and FinTechs, are seeking issuer partners with advanced security features and flexible credentials, with a preference for providers offering a comprehensive suite of solutions for core banking and payment processing.