Piraeus Bank signs with HID for instant card issuing

Source: HID Global

HID Global®, a worldwide leader in secure identity solutions, today announced that Piraeus Bank, a leading bank in Greece, has selected the company's FARGO® DTC1000 printers/encoders to instantly issue Europay, MasterCard® and Visa® (EMV) debit cards, a global standard for interoperation of integrated circuit cards, to its retail banking customers.

The solution is now used at 300 Piraeus Bank branches for on-demand card issuance, replacing the more expensive and time consuming system of sending EMV debit cards by mail. Headquartered in Athens, Piraeus Bank is a pioneering and innovative bank that has a presence in key European countries including the United Kingdom, Germany and a growing presence in Eastern Europe. The bank has a network of over 800 branches in Greece and more than 450 branches across its European subsidiaries.

Piraeus Bank was seeking a highly secure, convenient and innovative instant issuance solution that was cost-effective and easy to deploy for printing EMV debit cards in local branches across Greece. The bank chose HID Global’s FARGO printers/encoders based on these stringent requirements, in addition to the printers’ reliability and high quality, durable printing.

“HID Global is a trusted and recognized brand that offers the best solutions in the marketplace. The company’s instant issuance product was affordable and is unmatched for its ease of integration into Piraeus Bank’s highly secure IT banking environment,” said Harris Voutsas, IT Operations Director with Piraeus Bank. “Thanks to HID Global, we are able to offer our retail banking customers an improved and convenient service to replace or issue new EMV debit cards.”

“By delivering a comprehensive and innovative instant issuance solution that enhances their customers’ retail banking experience, we were able to successfully collaborate and support Piraeus Bank, one of the most prominent banks in Greece,” said Craig Sandness, VP, Secure Issuance Business with HID Global. “HID Global's secure card issuance solutions have consistently proven to be the most reliable and robust in the marketplace.”

HID Global partnered with CubeIQ, a regional banking solusolutions have consistently proven to be the most reliable and robust in the marketplace.”

HID Global partnered with CubeIQ, a regional banking solutions expert that has a longstanding relationship with Piraeus Bank. “We were able to easily and rapidly integrate HID Global’s FARGO solution into our core centralized Card Instant Issuance Solution CIIS™ for Piraeus Bank,” said Dimitrios D. Garbis, COO with CubeIQ. “This provided significant cost savings for the bank as there was no need to use additional PCs or install software in the branches for their card printing solutions.”

The FARGO printers/encoders were deployed to bank branches within a short timeframe of three months. Retail banking customers can now use their debit cards immediately upon issuance, which also facilitates customer loyalty and enhances overall customer satisfaction. The bank was able to leverage the same FARGO solution for its four newly acquired banks at no additional expense, enabling it to realize a return on investment (ROI) within one year.

Piraeus Bank is looking to further collaborate with HID Global to deploy additional secure identity solutions for its retail banking customers in the future.

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