FIS Cuts the Wait for New Credit and Debit Cardholders to Access Accounts

Key facts

• FIS Digital Issuance solution allows financial institutions to provide newly approved applicants with immediate access to new credit and debit accounts via mobile phone.
• First-to-market solution also provides same-day mobile option for cardholders whose cards are lost, stolen or compromised.
• Avidia Bank is the first financial institution to select FIS Digital Issuance.

JACKSONVILLE, Fla.--(BUSINESS WIRE)--Financial technology leader FIS™ (NYSE: FIS) announced FIS Digital Issuance, a first-to-market solution that allows financial institutions to provide newly approved applicants with immediate mobile access to their credit and debit accounts. Avidia Bank is the first financial institution to begin offering the new FIS solution.

Available to FIS credit or debit card processing clients, the solution 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 can 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.¹

Avidia Bank, a Massachusetts-based community bank with $1.6 billion in assets, has selected FIS Digital Issuance to provide added convenience for cardholders.

“Avidia prides itself on providing our customers with cutting-edge technology that reduces complexity and makes their financial lives easier,” said Todd Wood, AVP, Digital Banking at Avidia Bank. “With this new solution from FIS, our new card customers will now have immediate purchasing power.”

“In a world that places a premium on convenience and immediacy, this new solution from FIS lets financial institutions stand out from their competition,” said Jim Johnson, head of Payments and Wealth at FIS. “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.”

See how FIS Digital Issuance works in this video or read more on FIS’ website.

About FIS

FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a Fortune 500® company and is a member of Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com. Follow FIS on Facebook, LinkedIn and Twitter (@FISGlobal).

¹How Long Does It Take To Get A Credit Card?