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CoreCard Provides Banks With Unique Processing Solution A Federal Bank Adopts Corecard’s Solution to Bring the Processing of Private Label Credit Cards for Retail In-house

September 25, 2020 – CoreCard Software (www.CoreCard.com ), a leading provider of card management and boutique processing solutions, today announced continued growth of its private label solution including the successful conversion of a federal bank (not named due to client privacy protection policy) from outsourced processing to an in-house platform for retail private label credit cards. The bank now uses the CoreCard® software for its private label credit cards processing.

 

?With reducing margins in credit offerings, it is not profitable for small banks to continue outsourcing processing and sharing revenues with the processor forever. The CoreCard solution is perfect for small banks and this installation is a successful example of a bank?s conversion to our solution in a dynamic regulatory environment, as well as a bank starting to process its own private label credit cards?, said Leland Strange, CEO of CoreCard. “The CoreCard team has extensive experience with conversions from leading industry systems including First Data and TSYS. This deep understanding of conversions from other systems allowed us to help this banking client make the transition to the CoreCard software quickly and efficiently.”

The CoreCard application products are built to sit on top of the CoreENGINE platform, and the power of the shared components embedded in this platform is leveraged across all of our products. The CoreENGINE platform provides instant fault-tolerance, scalability, and ease of use. The CoreCard private label solution is a solid tool for managing card portfolio.

CoreCard?s highly parameterized solution can be customized to client?s special needs in a very short time frame. The application modules can easily interface with industry standard third party programs to allow for a smooth integration with existing ERP or Accounting packages. CoreCard CoreISSUE configured for Private Label provides issuers and processors with the most advanced and feature rich solution for issuing and managing their private label credit card portfolios. Features include:

  • New Account Processing (browser or bulk loading, optional bureau interface)
  • Credit Card Issuing, Reissuing, Card Replacement (optional HSM interface)
  • Transaction Processing (purchases and payments)
  • Accounts Receivable Billing (revolving and non-revolving)
  • Installment Loans for Major Purchases
  • Flexible Reward And Loyalty Program Management Schemes

The CoreCard solutions feature easy-to-use parameter-driven controls that provide the ability to set up any number or type of programs to manage transactions and accounts. The private label solution can help issuers and processors realize fast and measurable ROI, adapt rapidly to evolving market dynamics and product offerings, and attract and retain lucrative programs.

About CoreCard Software, Inc.

CoreCard Software, a leading provider of card management systems and processing services, offers an array of account management solutions to support the complex requirements of the evolving global financial services industry. The CoreCard® software solutions provide the market’s most feature-rich platform for processing and managing a full range of card products including prepaid/stored-value, fleet, credit, debit, commercial, government, healthcare and private-label cards as well as accounts receivable and loans. Headquartered in Gwinnett Innovation Park in Norcross, GA with additional offices in India and Romania, CoreCard is a subsidiary of Intelligent Systems Corporation [NYSE Amex: INS]. For more information, call 770-564-8000 or visit www.corecard.com.

Media Contact: Sharon Cuppett

pr@corecard.com

Phone: 1.404.271.8046

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