MAP Newsletter - Winter 2024 - Flipbook - Page 6
MAP welcomes Corelation as its newest partner
Credit Union Core Processor to recommend MAP Payment Services and Solutions to its Clients
Member Access Processing (MAP), has entered into a Partnership
Agreement with Corelation, Inc., the credit union core processor.
Through the agreement, Corelation will refer clients who would benefit
from the unrivaled service and implementations of MAP while gaining a
direct connection to Visa DPS.
“We’re excited to partner with Corelation,” said Steve Bone, MAP’s President and CEO. “Having collaborated for years, we’re thrilled to make it
official! With its advanced integration capabilities, flexible architecture,
and modern programming approach, KeyStone is a leading core processing solution for credit unions. Moreover, the company shares our
commitment and advocacy for credit unions and their members.”
Having worked with MAP on a number of implementations and conversions in the past, the Corelation Team was impressed with how thorough and professional MAP was in bringing on new solutions for their
client unions. Corelation is trusted by its core processing clients to
make recommendations that best fit the varied demands of financial
institutions.
MAP is equally happy with the new partnership. Corelation’s streamlined and flexible integration process makes the prospect of offering
enhancements and new solutions that much easier and faster. MAP
is proud of our continued relationship with Corelation to support
KeyStone’s open architecture and its robust integration into Visa DPS.
Instant issuance offers credit unions a competitive edge
Member’s demand for instant payments, convenience, and immediacy is
growing. Providing a personalized, on-demand, active debit and credit card
just makes sense. Instant issuance promotes top-of-wallet use as well as
boosts security—instead of making members wait for their card to arrive
in the mail. By offering this service, credit unions are doing more to solidify
their relationship with their members.
Instant issuance programs can help credit union gain a competitive edge,
giving their members instant access to their card of choice immedicately in
the branch, increasing activation and promoting spending sooner. For credit
unions, it’s all about satisfying the immediate demands for members to
access their card sooner and boost loyalty and trust.
When credit unions eliminate the lag time between issuance and the member’s receipt and activation of their card, the cardholder is more likely to use
the card sooner and more often. Members certainly appreciate this service,
and it influences a member’s decision to choose with the credit union in the
first place.
Instant issuance enables higher activation and utilization of that card for
the cardholder, The higher activation utilization within the portfolio of cards
6
is a significant
benefit to the
financial institution
and could result in
higher interchange
revenue, as well as
cost savings within
the card program
because you don’t
have to mail the
card.”
CPI’s Card@Once Spectrum Instant Issue Printer
Although some credit union are still debating whether to adopt an instant
issuance program due to costs and the move toward mobile banking, it is
still a highly sought-after program. The selling point is that members have a
fast, convenient, and safe way to continue their daily transactions. Instant
issuance offers a competitive advantage for credit unions that offer it.