Consumers using Ondot’s Mobile Card Services are able to quickly answer questions for which they would previously have had to call their Financial Institution. Self-service via the app not only improves customer satisfaction, it also lowers Customer Support costs significantly. Common uses cases of “Did this transaction go through”, “Why was this transaction declined”, “What is my available balance now”, “What is my available credit”, “I am traveling to a different city, state, or country”, “I lost my card”, “I misplaced my card”, “I did not do this transaction”, can all be addressed instantly from the app.
Consumers can check available account balances and spend limits on their cards, current status of accounts and cards, and recent card transactions including pending, approved, denied transactions and refunds processed for reversed transactions.
Everyday Banking Operations.
Consumers can perform common functions such as transfering funds from one account to another if available balance in their checking account is low, search for nearby ATMs for withdrawing cash and get directions to a Financial Institution branch or ATM, see hours of operations, and even email or call the Financial Institution from the app.
Consumers can manage card transactions. For transactions that they did not perform, consumers can instantly flag them and initiate disputes. For transactions that they did perform, consumers can tag, annotate, take a picture of the transaction receipt, and email transactions for reimbursement or record keeping.
According to your peers:
“While people use mobile banking once a week, they use payment cards every day, and if it is not our card that is top-of-wallet, we lose revenue and mindshare. ”
Edna De Saro
Senior Vice President and Marketing Director, Lone Star National Bank
Industry research shows:
Reg E has lowered overdraft revenue for community banks and credit unions by 45%-60%.