Integrated solution grants Tech CU members complete control over their cards
SAN JOSE, Calif.--Ondot Systems, the leading provider of mobile-based card services platforms, has integrated its solution with Access Softek to deliver a unified mobile banking and card control experience to financial institutions.
Ondot's and Access Softek's mobile banking and card services platform provides users with a unified application that can control all card settings with just a few taps from a Smartphone. This includes card on/off switches, location-based controls, spending limits, alerts and transaction or merchant controls to better meet consumer demands.
San Jose, Calif., based Technology Credit Union (Tech CU), with more than 90,000 members, implemented the card control solution as a companion mobile application called Card Manager, developed by Ondot Systems. Card Manager integrates seamlessly with Tech CU's mobile application developed by Access Softek. The service is operated by Ondot's partner, CO-OP, under the CardNav brand.
Members now have complete control of how and where their card is used. They can manage how much they spend on it, prevent fraud by invoking location controls and perform self-service functions from their application in seconds around the clock without having to contact the credit union. The service is available now and delivered via Tech CU's new mobile banking application available for both Android and Apple iOS.
"When it comes to card preferences, members are drawn to services that allow them to securely transact on their terms," said Rachna Ahlawat, executive vice president of Ondot Systems. "Through our integration with Access Softek and CO-OP, financial institutions like Tech CU can offer their members mobile-based card controls with real-time visibility to monitor each and every transaction to enhance card user experience while reducing risk of fraud."
This solution is a testament to how Fintech companies are partnering to deliver enhanced mobile services to financial institutions that increase customer engagement, reduce fraud and service costs and increase revenue.
"As mobile banking increasingly eclipses online banking as the digital channel of choice, it's crucial to offer innovative features that meet consumer expectations," said Chris Doner, CEO of Access Softek. "Integrating Ondot's card controls into our mobile banking platform provides our 400 financial institution customers with a powerful tool to reduce fraud and better manage their cards with as much detail as they desire."
By downloading the new mobile banking application, Tech CU members can turn their cards off or on, set location parameters on where their card can be used, manage daily spending limits and other payment parameters, like choosing to accept charges in certain merchant or transaction categories while declining all others.
"At Tech CU, ensuring that our members have a great experience is our top priority," said Dean Davis, Senior Vice President of Information Technology at Tech CU. "I recently used the service while traveling with my family and it offered us much peace of mind. We knew that no matter where we were in the world, we wouldn't have to call in to adjust our credit card settings. I'm glad that our members will be able to have a similar experience – allowing them to gain real-time control and better insight into their finances. Ondot Systems was a great partner in helping to bring this service to fruition."
About Ondot Systems
Ondot Systems is the global leader in powering mobile payment services, serving over 3,000 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.
About Access Softek
Access Softek provides financial institutions with innovative online and mobile banking products with secure, rich functionality. The company's history of mobile banking firsts includes the first app-based mobile banking, first web-based PFM, and first triple play of app, WAP, and SMS banking. Since 1986 they have continued to unveil cutting-edge industry firsts to over 400 bank and credit union customers as they develop both custom and turnkey mobile solutions out of their Berkeley, California headquarters. For more information about Access Softek visit our web site.
About Tech CU
Tech CU (techcu.com) is a $2.4 billion credit union serving more than 90,000 members throughout the San Francisco Bay Area — including employees of such companies as Tesla, eBay, Applied Materials, Nvidia and Facebook. A federally insured, not-for-profit organization, we put the financial interests of our members ahead of shareholder profit by helping members achieve their financial goals on their terms and by sharing the benefits of our growth. Founded in 1960 by the innovative employees of Fairchild Semiconductor, today we continue to be an industry leader, providing convenient and easy-to-use financial products for all stages of our members' lives, including personal banking, wealth management, private banking, commercial lending and business banking. Tech CU consistently achieves high marks for its customer satisfaction and maintains a 5-star rating from Bauer Financial, the nation's largest independent rating service for financial institutions. And, with mobile and online banking, 65,000+ surcharge-free ATMs worldwide (more than Chase, Bank of America and Wells Fargo combined) and convenient branch access to our financial experts, Tech CU makes 24/7 banking easy and empowering.