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FirstBank Taps CPI Card Group® for Card@Once® Instant Issuance Solution
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary
CPI Card Group (NASDAQ: PMTS) has deepened its collaboration with FirstBank, a subsidiary of FB Financial Corporation (NYSE: FBK), by implementing the Card@Once instant issuance solution in select branches. This rollout includes 47 Card@Once printers across Tennessee, Kentucky, North Alabama, and North Georgia. With approximately $12.6 billion in total assets, FirstBank enhances its customer experience by allowing quick card issuance during branch visits. The Card@Once solution, supported by a SaaS model, eliminates the need for in-house IT management, enabling efficient, cloud-based card issuance.
Positive
Expansion of Card@Once solution in select FirstBank branches enhances customer service.
Implementation of 47 Card@Once printers improves operational efficiency across multiple states.
CPI's SaaS model for Card@Once reduces burden on financial institutions for IT management.
Negative
None.
Companies deepen relationship with FirstBank leveraging CPI®’s instant issuance solution
LITTLETON, Colo.--(BUSINESS WIRE)--
CPI Card Group Inc. (Nasdaq: PMTS) (“CPI” or the “Company”), a payment technology company and leading provider of credit, debit and prepaid solutions, today announced that FirstBank, a wholly owned subsidiary of FB Financial Corporation (NYSE: FBK) and the third largest Tennessee-headquartered bank, has successfully implemented Card@Once® in select branches across its network.
FirstBank, which has 82 full-service bank branches and approximately $12.6 billion in total assets, is an existing customer of CPI, who initially engaged CPI to provide it with central personalization services. The companies expanded their relationship by completing a roll out of 47 Card@Once printers across FirstBank’s network in Tennessee, Kentucky, North Alabama and North Georgia.
“Providing our customers with the best branch experience is always a top priority. The ability to issue a new or replacement card in the span of a quick branch visit adds to the value we can offer cardholders,” said Wade Peery, Chief Administrative Officer, FirstBank. “We’re pleased to have worked with CPI on bringing instant issuance to select FirstBank branches and look forward to our continued collaboration.”
Card@Once is the first instant issuance solution to be backed by a Software-as-a-Service (SaaS) model, affording financial institutions the ability to quickly and conveniently issue new or replacement cards to their customers. By leveraging the solution, financial institutions are freed from many of the demands required to support instant issuance, including maintaining software and servers onsite. CPI securely manages IT setup, 24/7 support and maintenance for the customer-friendly cloud-based solution – empowering financial institutions and their customers with an easy, web-based and quick to implement instant card issuance technology. With its ability to support dual interface card solutions, Card@Once also allows financial institutions to provide customers with contactless-capable cards.
“The convenience and customer experience enabled by Card@Once can be a key differentiator for a branch. Additionally, its scalability allows CPI to easily accommodate financial institutions’ instant issuance needs as their networks grow,” said Lane Dubin, SVP and General Manager, Prepaid, Personalization Solutions and Instant Issuance for CPI Card Group. “We’re excited to deepen our relationship with FirstBank and connect them to our best-in-class instant issuance solution.”
CPI Card Group® is a payment technology company and leading provider of credit, debit and prepaid solutions delivered physically, digitally and on-demand. CPI helps our customers foster connections and build their brands through innovative and reliable solutions, including financial payment cards, personalization, and Software-as-a-Service (SaaS) instant issuance. CPI has more than 20 years of experience in the payments market and is a trusted partner to financial institutions and payments services providers. Serving customers from locations throughout the United States, CPI has a large network of high security facilities, each of which is registered as PCI compliant by one or more of the payment brands: Visa, Mastercard®, American Express® and Discover®. Learn more at www.cpicardgroup.com.
About FirstBank
Nashville-based FirstBank, a wholly owned subsidiary of FB Financial Corporation (NYSE: FBK), is the third largest Tennessee-headquartered bank, with 82 full-service branches across Tennessee, South Central Kentucky, Alabama and North Georgia, and a national mortgage business with offices across the Southeast. The bank serves five of the major metropolitan markets in Tennessee and, with approximately $12.6 billion in total assets, has the resources to provide a comprehensive variety of financial services and products.
