Source: Best Innovation Group
Best Innovation Group (BIG), a credit union innovation catalyst with 20 years of payments experience, today announced that Suncoast Credit Union has signed to offer SetIt Credit — a card management tool designed to improve cardholder experience in an easy-to-use, secure platform.
Suncoast, the largest credit union in Florida with more than $8 billion in assets and over 700,000 members, plans to deploy SetIt Credit across its debit and credit cardholder base. The product’s straightforward design and revenue-focused business model is expected to deliver measurable, immediate benefits to both the credit union and its members.
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.
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.
“We at SetIt Credit are excited to partner with an innovative credit union like Suncoast to move the meter on drivers of interchange growth in today's environment, like app-to-card ratio,” explained BIG CEO and co-founder John Best.
“The payment card business continues to get more competitive, and as our members shift a greater share of their payments to online and app-based merchants they need help keeping those credentials current,” said Ted Hassenfelt, Suncoast’s Chief Information Officer. “We see SetIt Credit as a real win-win in that regard.”
Suncoast will also be the first financial institution to leverage SetIt Credit’s newly released application program interface (API) set. This will allow the credit union to bring these valuable features to market more rapidly, through its existing channels, with less development effort.