What is a turnkey credit card programme?
Private banks want to offer a full banking service to their clients, but offering credit cards is not usually their core business, and they do not have the required operational structures. This is where Advanzia Bank steps in. Our partner banks can rely on our expertise to quickly set up a full-scale credit card programme. This includes everything from licensing to 24/7 customer service, with all backend services provided, including card and PIN distribution, fraud monitoring, web applications – all of this is based on the highest security standards.
What are the main advantages for banks to partner with Advanzia for their card offering needs?
Advanzia offers a comprehensive product and servicing solution that takes care of the complete credit card programme. This simplifies matters for partner banks. Setting up and operating a card programme directly with a processor is costly and complex. We have partner banks that operated their own programme before partnering with us, which after migration were able to reallocate most of their staff to other business-critical areas. We also offer speedy time-to-market and enable banks to set up full-scale card programmes within weeks. In addition, Advanzia manages industry-driven and regulatory-driven changes, and we invest continuously in innovating our services. These investments include the full range of mobile payments, digital portals for banks and cardholders and an easy-to-use mobile app based on the highest security standards. Our industry expertise coupled with service excellence allows us to serve private banks and their high-net-worth customers. In fact, our services have been developed specifically for this important customer segment.
What cards are on offer in your portfolio?
Our main white label brand, Capitol Cards, includes a range of premium card products from Visa and Mastercard, including Gold, Business, World, World Elite and Infinite cards, all available in a range of currencies. Comprehensive travel insurance is always included, as our globe-trotting card holders would expect. We also offer exclusive benefits for black card holders. As well as airport lounge access there is a concierge service which organises anything that the bank's high-net-worth clientele may require, from a last-minute restaurant booking to a helicopter ride to a private holiday resort.
What does out-of-the-box customisation mean?
Many of our products and services are available “out of the box" so that banks can pick and choose what meets their and their clients' needs. The programme supports various branding customisation options, thus ensuring that the bank's brand remains at the fore.
We have recently expanded our product range, the currencies offered and servicing languages, plus we offer flexibility in pricing options for cardholder fee structures, such as annual fees, cash withdrawal fees, etc. There is also a range of data and reporting options available.
All of these options are readily available within our card solution, and this is the enabler for banks to launch quickly, as we require no development lead-time.
How important is the “white label" aspect of the card programme?
Advanzia operates credit card programmes for a large number of private banks, mainly as an invisible service provider working in the background. The key is to ensure that the card programme is seamlessly aligned with the needs and expectations of the bank's customers, and thanks to our white label services, the cards look and feel as if they are part of the bank's own service offering. We provide these solutions to banks and financial institutions across Europe and beyond.
How has the business grown recently?
Advanzia has become the market leader in Europe in this segment, and providing Cards-as-a-service solutions has become a strategic focus for us. We invest substantially to build our experience and expertise. We started this business line in 2014, after which we saw substantial growth and consolidation in the market. Now the private banking sector is increasingly turning to the Cards-as-a-service model, and we see that this area continues to grow. In the meantime, we are serving nearly 100 private banks in 12 countries – these are numbers that we can be proud of!
How does Banking-as-a-Service impact Advanzia?
Overall, BaaS is a trend that is reconfiguring the banking value chain. Traditional banks no longer need to own the full spectrum, and other companies who may not have a full banking licence can offer services which will boost revenues and customer loyalty. In Advanzia's case, we have a banking licence, our financial infrastructure is fully regulated, and this is coupled with setup and service knowledge that allows other financial institutions to offer card products to their customers quickly and at a low cost. As to the trend, we see the importance of digital services and we invest heavily towards facilitating the integration in our partner's e-banking systems.
How can we contact the sales team?Email banks@advanzia.com for more information. Our Business Development team will reach out to you to discuss how we can help.