Atlanta, GA, August 04, 2013 --(PR.com
)-- A new credit card product endorsed by the Georgia Bankers Association (GBA) may provide Georgia-based banks a way to provide customers added credit availability and an opportunity to grow bank loan portfolios.
The Georgia Bankers Association, through its subsidiary, GBA Services Inc, has endorsed the Corserv Account Issuer credit card product.
Corserv Account Issuer can help a bank systematically build a predictable, profitable, easily managed credit card portfolio.
Many community banks offer credit cards to their customers. However, many of those are through agent-bank programs in which the local bank does not underwrite, fund or keep the credit card balances on the bank’s books. Through the Corserv Account Issuer credit card product, a bank can offer its customers a card that is locally funded and get the benefits of loan portfolio growth. Some of the highlights are:
* Visa or MasterCard brands available, complete with rewards and other features
* Consumer, small business and corporate card programs available
* The bank underwrites, funds and keeps the account balances on its books
* Corserv manages the operational and regulatory aspects of account management, including collections
* Corserv provides plug-and-play processes, policies and technologies to support the program
* Corserv assumes total responsibility for card fraud
* Speed to market, with the capability to launch customer offerings in less than 90 days.
The GBA Services, Inc. Board of Directors, comprised of GBA member bankers, approved the endorsement.
“In addition to the unique product features that the Board thought might be of interest to GBA members, Corserv’s management team, led by card-industry expert Jerry Craft, has a long track record of building successful credit card portfolios in Georgia,” said GBA Services, Inc. Chairman Bobby Heath, president and CEO, First American Bank and Trust, Athens. “The management team averages more than 25 years of card industry experience each.”
“I am delighted that Corserv will have the opportunity to assist Georgia banks to diversify their local assets with competitive high yield / high fee income products deepening relationships," said Jerry Craft, chairman and CEO of Corserv.
About the Georgia Bankers Association: Founded in 1892, the Georgia Bankers Association promotes the general welfare and usefulness of banking and the preservation of a sound banking system. For 121 years, the GBA has provided Georgia’s banks with top-quality professional development, revenue-enhancing products and services, government relations and public advocacy.