Credit Choice from Fiserv is an innovative new option for credit card issuance to consumers and businesses. For Fiserv financial institution clients, Credit Choice provides a fully managed experience from program management to credit decisioning to operational excellence components such as compliance, servicing, risk, billing and reconciliation. Credit Choice allows Fiserv debit processing clients to provide consumers a unified digital debit and credit card experience accessed through the same app and authentication process. Cardholders receive the full benefits of a modern, digital experience through capabilities recently acquired via OnDot and SpendLabs.

“Smaller financial service firms face a tough choice when it comes to credit card issuance. They realize that national issuers often use credit cards as an entry point to establish relationships in a market, and then cross-sell additional credit and deposit offerings,” said Brian Riley, Director, Credit Advisory, Mercator Advisory Group. “With Credit Choice an institution can shift workload to an efficient partner, while still protecting the account relationship. Institutions can provide credit card offerings with access to many Fiserv capabilities.”

Included with Credit Choice is access to an array of best-in-class Fiserv capabilities such as digital card management, actionable program analytics, and a robust platform for servicing individuals, small businesses and commercial credit card programs. Cardholders can easily get, use and manage their cards and see their spending through their financial institution’s online or mobile banking app.

Cardholders benefit from instant digital card issuance, greater control of their cards and enriched transaction data. In addition, for businesses, employees and managers will have robust functionality spanning onboarding, card management, AI-enabled expense management, virtual cards, reporting and analytics, and authorization workflows, all from the convenience of their mobile device or from a state-of-the-art web experience

“Without a robust credit card program, financial institutions risk losing their consumer and business customers to competitive offerings,” said Himanshu Patel, Head of Card Services at Fiserv. “Fiserv is now providing our financial institution clients a turnkey credit card program option that removes the headaches associated with direct credit card issuance, delivering world-class digital technology and a unified cardholder experience between debit and credit.”