In last week's article "Developing Your Mobile Banking Marketing Strategy", we discussed how credit unions can launch their mobile banking app to their members, and ways to attract new members. Credit unions sometimes struggle competing with the very deep pockets of large banks' marketing budgets. To differentiate themselves, credit union's can offer unique and advanced features, built within their core processing system, to stand out and educate members on the benefits.
Remote controls for cards is one such feature. Built-in remote controls for cards give members the ability to temporarily turn off and/or turn on their cards based on predetermined parameters established by the member or the credit union. Here are 3 compelling reasons your members will want this:
- You and your spouse take the kids to Disney World. It's 97 degrees, 197% humidity, and the line for splash mountain is 3 days long. You are suddenly jealous of the kid in front of you who has a fan that sprays water and will probably break by the end of the electrical light parade. As luck would have it, they are being sold at a stand for the low, low price of $25. You reach for your credit card only to realize it must have fallen out of your pocket while flying dumbo. Anyone at the most magical (and expensive) place on earth could be making their trip that much more memorable on your dime. Until you remember you can turn it off with your phone and use your wife's card to pay for those fans.. and some water... and some mickey ears... and a Cinderella magic wand...and...
- Your teenage son has your credit card to fill up on gas. Your spouse insisted he be given this card for gas despite the fact that you had to pay for your own gas as a kid. But you decide it's not worth the argument. "Pick your battles" your mom always told you. So you relent. And then your son gets himself a girlfriend, and there are movies, and dinners, and new cologne purchases that start appearing on your card statement. This is one battle you are not going to lose. You grab your phone and open up your credit union's mobile app, and with a few swipes of a finger, you set the merchant type for your son's card to be limited to gas stations, because you know he will either have to start paying for dinners himself, or start buying his girlfriend dinners at BP... either way your problem is solved.
- Your aging mother has been struggling lately. Losing things, forgetting conversations. You know this is to be expected and have had talks with the doctor. But it still doesn't ease your concern. What if she becomes a victim of fraud? She may live in an assisted living facility but she still wants some of her own freedom, and you can't take away her debit card. But you also know she stores it with a sticky note that has the pin number on it so she doesn't forget. This is never easy for anyone, but you now can set parameters on where mom's card can be used and put a limit on how much can be spent at once, all from your phone. And with a few clicks on your credit union's remote control debit cards, you can change the limits if the situation warrants it. It's the control you need with the freedom mom still wants.
FLEX Remote Controls for Card Management Provide Advanced Mobile Banking Security
It’s easy to see why FLEX credit union clients and their members are confident in their mobile banking app's security and advanced applications such as Remote Control Cards. FLEX is able to provide credit unions such as HALLCO Community Credit Union, a community-based, not-for-profit financial institution in Georgia, this amazing feature. Download our case study, and contact us to learn how easy we make it for your credit union to offer the most advanced and secure mobile banking solutions.