Tampa-based Suncoast Credit Union and SetIt Credit are now working together to improve cardholder experience via SetIt’s simple-to-use and secure card management tool.
Suncoast is Florida’s largest credit union, with members in 21 counties and assets totaling $8 billion. It prides itself on being different and taking a unique and innovative approach to serving its members. It expects SetIt’s straightforward design and revenue-focused business model to deliver immediate benefits to members and the credit union itself.
The SetIt Credit Solution
Research continues to show that consumers prefer making payments from their credit union or bank. They trust their financial institution to manage their money and keep their personal information secure. SetIt Credit is an exciting integrated online banking tool that turns Card Not Present transactions into simple member payment experiences, all while offering credit unions additional revenue opportunities. Credit unions can strengthen member engagement and enhance insights on member spending habits.
The innovative tool allows credit unions to update customer addresses and other important information like new card account numbers and billing relationships, across multiple channels. Its one-click approach also helps institutions reduce interchange erosion threats, increase interchange revenue, and reduce fraud.
As the payment card business grows ever more competitive – and cardholders shift a greater share of their payments to online and app-based merchants – credit unions are obligated to keep member credentials current. SetIt offers credit unions a win-win in that regard. Suncoast will be the first institution to use our newly-released API set which will allow them to bring the valuable features our program offers to market more rapidly with less development effort.
Today, it’s more important than ever for credit unions to improve cardholder experience and provide quick and easy online access to accounts and data anytime, anywhere. They must continue to focus on marketing and raising awareness with their members of the distinct benefits of making the credit union’s card their go-to payment method across all channels. Credit unions, with their historical focus on personal relationships, are now uniquely positioned to serve as central digital payment hubs for each of their members.