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Want to Level Up Your Debit Program? Watch Our Webinar

Author Svetla Pavlova

Steve Sievert is shown alongside PULSE Live logo and “Webinar: Elevating Your Debit Performance”

To achieve “best-in-class” debit issuer status, a financial institution must excel in key performance measures while effectively handling attempted fraud. Institutions that do so are wringing virtually every drop of value from their debit programs.

Want to elevate your institution to best-in-class status? A webinar presented by Steve Sievert, PULSE® Executive Vice President of Marketing and Brand Management, offers insights to help you assess your performance and strategies for taking your results to the next level.

 

 

Capitalize on digital demand

Sievert’s first recommendation is to enhance your institution’s digital capabilities. “By making investments in digital payment capabilities, you can cater to the needs and preferences of your cardholders and position your institution for growth,” he said.

Key digital capabilities for issuers include:

 

The fraud factor

A crucial element of being a best-in-class issuer is managing fraud without compromising a positive and seamless customer experience. It is critical to constantly evaluate and modify fraud models to achieve a balance of high authorization rates and low fraud losses, says Sievert.

“Issuers should evaluate their program with fraud analysts to refine rules, tools, and processes, paying particular attention to card-not-present transactions because this is where the majority of fraud happens.”

 

Focus on key performance measures

A fundamental aspect of optimizing your debit program is prioritizing card penetration, activation, and usage (PAU). Enhancing these elements of your program helps you grow your account base and mitigate attrition. More importantly, it boosts your debit transaction count and dollar volume for increased revenue.

Issuers use various tactics to achieve best-in-class PAU, such as offering instant digital issuance, a smooth onboarding process, and lifecycle marketing to drive usage. Activation is key, and an informative onboarding journey is critical to boosting your performance in this area.

Watch the webinar to hear more about the strategies and tactics Sievert recommends for becoming a best-in-class issuer. The key is to make it easy for your customers to create the habit of reaching for your debit card every time.