Peoples Bank, which is based in Ohio, announced the launch of the Corserv credit card program.
In this case, the financial institution launches a new set of solutions for consumers within the framework of a partnership with the company Corserv. The lender states that cooperation with the firm will revolutionize the banking experience for retail clients, which include commercial and non-profit organizations, small businesses, consumer clients, and municipalities. The relevant information is contained in the joint press release of the financial institution and its partner.
Peoples Bank currently operates 132 banking offices in several states. Using the Corserv program will allow a financial institution to take full control of the profits and losses on credit cards. Also, as a result of this partnership, the bank gets the opportunity to make credit decisions based on knowledge about applicants.
The Corserv program is an opportunity for a financial institution to offer customers a wide range of credit card products. This list of offers includes protected cards for individuals who, as part of their financial activity, seek to increase the amount of credit funds received, commercial and business cards, cards with low rates, cards with large rewards, and incentive cards belonging to the category of conventionally traditional banking products.
Peoples Bank expects that the cards as a product will demonstrate a high level of efficiency. The financial institution justifies the positive expectation by the fact that Corserv partners among lenders have reached an average level of return on assets for their credit card programs in 2022.
The press release states that one of the main advantages of the credit card program is additional control capabilities that will be offered to commercial and business customers of Peoples Bank. In this case, consumers will be able to issue new cards, establish algorithms for controlling the amount of funds spent and accelerate transactions sent to suppliers using digital means of payment.
Tom Frawley, Senior vice president of Peoples Bank, said that as a result of the introduction of the credit card program, the lender’s business customers will have access to free expense reporting and detailed data on all transactions. He also noted that the card products of a financial institution have remuneration systems that are competitive.
As we have reported earlier, Moody’s Revises Credit Ratings of Six Major US Banks.