Santa Clara, Calif. and St. Petersburg, Fla. – Aug. 8, 2018 – PSCU, the nation’s premier payments credit union service organization (CUSO), has partnered with Ondot, the global leader in mobile payments services, to further enhance the credit union member experience through a comprehensive Alerts and Controls solution.
The best-in-class solution – which represents an evolution of PSCU’s current alerts offerings – can be fully integrated into credit unions’ mobile and online account management applications or delivered through PSCU’s digital experience platform. It uses advanced technology to offer alerts for account activity and spending limits, along with location-based controls for card usage.
“PSCU is committed to service excellence and focused on innovation. We continue to invest heavily in the digital channel in order to enhance offerings for our Owner credit unions, enable engaging member experiences and protect our Owners from fraud,” said Jeremiah Lotz, VP of Product Management at PSCU. “We are excited to now offer the most robust tool on the market to deliver on that commitment.”
PSCU made the decision to partner with Ondot due to the company’s track record for delivering the most innovative, user-friendly mobile card control solutions in the country, enabling credit unions of any size to compete with top-tier banks. Features include convenient access through the digital channels whereby members set their preferences directly within the credit union’s mobile or online banking site; real-time notifications delivered via text or email alerts and push notifications; and in-app review of transaction details by members prior to contacting a call center.
PSCU Owner credit unions choosing to implement the solution can expect to see lower fraud losses with card controls and real-time alerts which, on average, reduce the number of fraud attempts before action is taken from 2.87 to 1.05. Call volume to contact center representatives is typically reduced, and card usage and top-of-wallet movement is increased as a result of empowered and engaged members.
"Members of our Owner credit unions will now have the ability to easily transact with their card on and off, set spending limits, even create real-time alerts, all to ensure they can seamlessly manage their finances. This is one of the many exciting developments in our mobile solution that our Owners can expect to see in the coming months,” added Lotz.
PSCU’s Alerts and Controls solution includes a wide array of robust features including:
“Mobile card control services are no longer an option to remain competitive and provide the highest level of member experience,” said Vaduvur Bharghavan, CEO at Ondot. “We are excited to partner with a CUSO leveraging technology to ensure its Owner credit unions have the ability to deliver seamless and secure card management options to provide personalized and engaging card-based payment experiences.”
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.
PSCU is the nation’s premier payments CUSO. Committed to service excellence and focused on innovation, PSCU offers a comprehensive, highly integrated suite of traditional and digital payments solutions for credit unions to optimize their member experience. Leveraging digital technology, PSCU supports the success of nearly 900 Owner credit unions representing over 20 million accounts through secure, best-in-class solutions including payment processing, risk management, analytics, loyalty programs, digital banking, marketing, strategic consulting and mobile platforms. Comprehensive, 24/7/365 member support is delivered by contact centers located throughout the United States. The origin of PSCU’s model is collaboration and scale, and the company has leveraged its influence on behalf of credit unions and their members for more than 40 years. For more information, visit pscu.com.