Ondot Systems Unlocks Digital Innovation for Banks and Credit Unions with New Cloud Service

Cloud implementation is quicker to market, enables new product adoption and costs less to launch and maintain

Santa Clara, CA, July 16, 2019 -- Ondot Systems, provider of digital services for debit and credit card issuers, has announced a new way of offering the latest digital and mobile customer experiences through a cloud service. For Ondot’s 4,000 banks and credit unions, this means faster and easier upgrades and access to the latest innovations and functionality. For new clients, this unlocks the digital features customers demand with significantly lower integration, maintenance, compliance and operational costs.

"One of the challenges regional and community banks and credit unions face is the complexity of physical data integration in their data centers," says Prasanna Narayan, Head of Product at Ondot. "This option allows mid-sized and smaller issuers to more quickly and easily launch these services and compete with large national banks on digital customer experience." Cloud implementation provides faster deployment, lower operating and maintenance costs, and lower compliance and monitoring overhead.

In addition to Ondot's industry-leading card controls and alerts, cloud integration can provide access to Ondot’s latest services, including instant digital issuance, mobile onboarding, transaction enrichment, spend insights, recurring payments and other digital card tools. Plus, clients will get quicker time to market with new innovations as they become available.

Ondot’s cloud services also reduce the overhead of keeping pace with evolving security and compliance mandates. “A key concern we hear about from customers is security and compliance,” according to Prasanna. “Ondot’s eight years of experience working closely with banks and credit unions helps us understand the security and compliance needs of our clients.” Ondot’s cloud service utilizes scalable and reliable AWS, and uses robust disaster recovery and redundancy to ensure consistent uptime. Ondot has implemented financial services industry best practices for privacy, security and compliance, including PCI 3.2.1 audits and SOC2 certification.

Large banks have continued to gain market share over the last decade, and digital services are increasingly driving that preference. According to a 2018 Harris Poll, the largest driver of preference for large banks compared to smaller financial institutions was digital experiences and capabilities. Ondot’s cloud service helps close this gap by letting issuers of all sizes offer the ability for cardholders to get, use and manage their cards with their mobile phone.

Founded in 2011, Ondot provides digital solutions for over 4,000 banks and credit unions, including multiple top-10 global banks, allowing cardholders to use and manage their credit and debit cards with their mobile phone. For questions, please contact media@ondotsystems.com.