Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, announced today that Forcht Bank, one of the largest privately-owned banks based in Kentucky, has launched a new card program to protect cardholders, elevate their customer experience and make the communities the bank serves better places in which to live and work.
Forcht Bank places a strong emphasis on providing differentiated value to its customers while being an active part of the community. When the bank decided to relaunch its credit card products, it started with three key objectives:
• Mitigate risk of fraud to its business and customers
• Increase customer loyalty by improving the cardholder experience
• Give back to the community
Forcht Bank delivered on all three of these goals by leveraging a variety of card solutions from Fiserv, including Card Risk OfficeSM, uChoose Rewards® and MyCardCreation®. Card Risk Office provides a holistic solution to monitor, manage and prevent card fraud. Case management and transaction blocking services are complemented by a premium fraud rule package, custom rule authoring and the consultative services of an experienced risk analyst.
“Customers want the peace of mind that their credit cards are secure,” said Chip Clements, executive vice president, Forcht Bank. “After we introduced Card Risk Office Advisor, 2018 year-end figures showed a decrease in fraud losses of 1100 percent from the prior year in our credit card portfolio. A reversal that substantial is a significant win for us and our customers.”
The award-winning uChoose Rewards loyalty program encourages accountholder retention and increased card usage with valuable and flexible rewards. Cardholders have millions of redemption options, ranging from merchandise and travel experiences to gift cards for both big-box national chains and local and regional merchants.
“Consumers seek, and use more regularly, the cards that enable them to earn rewards,” said Chad Peck, vice president, product strategy, Card Services, Fiserv. “Cardholders realize tremendous value from uChoose Rewards, which boosts cardholder engagement for financial institutions.”
MyCardCreation allowed Forcht Bank to custom-design cards to promote causes its customers support, including non-profits and local schools. One of the new card designs offered by Forcht features the Bluegrass Center for Autism, a non-profit whose mission is to prepare children with autism and other related disabilities academically and personally to successfully transition into the adult world.
“When Forcht Bank stepped up to support us, we truly felt that they cared for the children and families that receive our services,” said Paul Kichler, executive director, Bluegrass Center for Autism. “Forcht Bank is showing us, and our community, their dedication to making a difference in the lives of children and families affected by autism.”