Best Innovation Group aims to put credit unions top of wallet with SetIt card management tool

Source: Best Innovation Group

Best Innovation Group (BIG), a credit union innovation catalyst with 20 years of payments experience, today announced the launch of SetIt Credit, a card management tool designed to improve cardholder experience in an easy to use, secure platform.

As consumers increasingly shop online and pay bills with debit and credit cards, it’s more important than ever for financial institutions to ensure card use and to maintain up-to-date cardholder information. Credit unions face particular challenges when competing with institutions with greater marketing reach.

SetIt Credit, a new solution from BIG, offers an easily integrated online banking tool with a one-click approach for updating customer addresses and other important information, including new card account numbers and billing relationships, across multiple channels. Setit Credit helps credit unions reinforce member engagement and enrich insights on member spending habits.

“Top-of-wallet status has always been essential to a healthy card program,” explains BIG CEO and co-founder John Best. “The rules are changing as mobile wallets move into the mainstream and payment options multiply- ‘top of app’ is now the name of the game. We’re thrilled to be able to empower credit unions to increase member convenience. ”

SetIt Credit will enter beta production with Citadel Federal Credit Union in Exton, PA during the second quarter of 2017. “We want to empower our members to take greater control of their cards, said Michael Schnably, Citadel’s Senior Vice President. “At the same time, we recognize that payment apps can pose a challenge for credit unions. We believe our institution can serve as members’ central source for app-based card control.”

Streamlined Card Functionality
In support of mutual customers, BIG and MasterCard are teaming on SetIt Credit to further streamline card functionality within digital payments with the goals of making processes more consumer friendly and creating new “top of app” opportunities for issuers. “We see clear value in working with companies such as BIG that enable innovative solutions that are safe, simple, and smart,” said John Ainsworth, executive vice president, MasterCard.

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