Santa Clara, California and Mexico City, Mexico, Oct. 22 (Korea Bizwire) — INVEX (BMV: INVEX A) Credit Card business, the only monoliner specializing in payments and cobranded cards, with focus on 100% digital customer experience in Mexico, has partnered with Ondot, the global leader in mobile payments services, to deliver full card life-cycle management associated with the ‘Instant Card’ on a single platform. The digital card services solution creates an end-to-end customer journey -from product presentment, selection, digital acquisition to instant issuance and secure payments.
Conversational platforms are becoming the new digital banking user interface. As consumers spend more time on messaging apps, IoT devices and social media, they require similar solutions from their financial institutions.
INVEX solution is built on Ondot’s mobile card services conversational platform and creates a two-way 100% digital interaction between the bank and its customers. This interaction is real-time, the customer is able to navigate, select, apply for a new credit card product, get approved instantly, use card for online purchases immediately and manage (controls and alerts) the new digital card -all from their mobile.
“To achieve digital mastery, banks need to invest in digital capabilities that reflect the entire customer life cycle and support customers across touchpoints”, wrote Aurelie L’Hostis, Senior Analyst at Forrester Research1. “The age of the customer demands that you align your digital capabilities with the customer life cycle. [Banks] should plan for cross-touchpoint behavior by designing processes that make it easy for customers to switch between touchpoints.”
Today’s digitally connected consumers expect detailed information about everything -including their payment product options, real time visibility into their card transactions, the need for secure controls and ability to instantly interact with their Financial Institutions over digital mediums.
“In a digital-first world where payments are becoming invisible and consumers expect instant gratification, card issuers must attract, acquire, and empower consumers with personalized digital experiences,” said Vaduvur Bharghavan, Ondot’s Chief Executive Officer. “Ondot provides a comprehensive set of services around the ‘digitized card’, integrated into existing mobile apps, card management systems, and authorization platforms”.
INVEX’s Digital Card Services Solution includes a wide array of robust features including:
- Mobile Product Presentment & Selection -Users can browse INVEX’s diverse set of products to pick the right product that suits their needs.
- Digital New Customer Acquisition and Instant Issuance -Digital application in real-time with instant approval and immediate purchases, delivering a frictionless journey.
- Built in Card Controls & Alerts to personalize card usage -Ondot’s industry leading card controls and alerts in use by over 4,000 Financial institutions, benefiting millions of card holders, are included in the solution.
“Nowadays, credit card customers and digitally savvy generations, seek simplicity and immediate financial solutions through 100% digital channels. At INVEX, we are committed to consolidate our position as a player at the forefront of the Mexican consumer and payments market, providing solutions that meet these expectations,” said Jean Marc Mercier, Managing Director for INVEX´s Consumer Banking and Payment’s Business.
About Ondot Systems
Ondot Systems is the global leader in powering mobile payment services, serving over 4,000 financial institutions across four continents. The company’s real-time platform, built upon an API based services-oriented architecture, gives financial institutions a competitive edge by increasing mobile engagement and empowering their customers to personalize, manage and control how payments are made in today’s world of always-on digital commerce, resulting in higher usage of payment instruments while lowering fraud incidents. To learn how Ondot is shaping the future of payments, visit www.ondotsystems.com
INVEX is a Mexican business group that generates specialized solutions. With 27 years in the market, INVEX is composed of six business areas: Private Banking, Business Banking, Consumer Banking & Payments, Trusts, Leasing and Infrastructure. INVEX has been characterized by a consistent and sustainable growth. INVEX shares are traded on the Mexican Stock Exchange, under the ticker “INVEX A”.
1 Footnote Source: Forrester, Assess Your Digital Banking Capabilities, July 2018
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Source: Ondot Systems via GLOBE NEWSWIRE