The Innovation Imperative for Financial Institutions

The current economic contraction, increased consumer choice enabled by digital technology, and consumers’ more discerning consumption patterns set the platform for the personalization trend and its adoption across industries, including fnancial services. Innovation is all the more imperative as credit card issuers face negative annualized returns for the frst time in over 30 years.

This report outlines the benefts to financial institutions of implementing end-to-end, on-demand and personalized payment card strategies to meet niche markets and mitigate operational risks, such as excess inventory. The benefts aren’t limited to large financial institutions alone, but also extend to small and mid-sized issuers with existing payment card program portfolios and to those either entering the market for the frst time or re-entering it.

The first section of this report highlights the effects of the current economic climate on FIs that are being forced to reevaluate their portfolios to respond to changes in consumer behavior. Next, this report will demonstrate the value of offering personalized payment cards including credit, debit or prepaid.


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