FIS (NYSE: FIS), a financial services technology firm, announced on Monday that FIS Digital Issuance, a solution that allows financial institutions to provide newly approved applicants with immediate mobile access to their credit and debit accounts. According to FIS, Avidia Bank is the first financial institution to begin offering the new FIS solution.
FIS also revealed that the solution, which is available to FIS credit or debit card processing clients, allows consumers who are approved for a new credit or debit card to use a mobile app to set up their card securely in their phone’s mobile wallet. The cardholders may then make purchases immediately, allowing financial institutions to provide additional value and build relationships with these consumers.
“The FIS Digital Issuance solution also provides a same-day mobile replacement option for cardholders whose cards are lost, stolen or compromised. Generally, a physical replacement card takes three to seven business days to be delivered by mail.”
Jim Johnson, Head of Payments and Wealth at FIS, further commented:
“In addition to providing new cardholders with immediate access to their credit and debit accounts, FIS Digital Issuance also promotes a positive experience as cardholders begin their relationships with their new financial institution.”