Thales’ Central Issuance award win underlines growing role of Fintech innovation in Chile

1
[ This article was originally published here ]

Thales has just been recognized by Santander in Chile for our EMV card issuance solution, which has allowed the bank to create an infrastructure that enables it to customize cards on a large scale, without having to rely on partner services. As the largest bank in the country by loans and deposits, and with more than 500 branches, we are delighted that our solution has been deployed by one of the major players in the banking industry and even more overjoyed that the solution has been recognized as a great success.

Currently in Chile, it is very common for banks to use a third party that acts as their card’s supplier, as the banks often don’t have the facilities to create cards themselves. The problem here is that using a supplier can sometimes cause delays when it comes to card delivery for customers. The process is lengthy and includes numerous inefficient steps where the bank has to first input data, send off for the card to be made, print the card, mail it back to the bank and then finally mail it to the recipient. Our solution on the other hand streamlines the entire process, helping to ease the problems identified above.

We have created an innovative end-to-end process that includes everything from a flexible Central Base architecture with a powerful embedded EMV data preparation engine, to a Key Management System and a Shopfloor application. This way, EMV cards can be handed out in branch and on the spot to customers – a much more efficient process.

In addition, our latest Instant Issuance solution, which is also provided to Santander, means that a new bank card is issued and activated immediately and can be used there and then. This is essential for today’s market and enables financial institutions to get new customers up and running with their bank card instantly.

Over the past several years Chile has invested a large sum of money into Instant Issuance and the benefits it can bring to the country’s banks. To demonstrate just how far the solution has spread, we now have over 1,750 Instant Issuance points connected to our multi-bank solution in the country.

Because of this increased investment and innovation in a seamless banking experience for customers, Santander has become the first bank in Chile that can start working with better delivery deadlines, use more innovative products and provide differentiated services to its customers, across the whole of the country.

When it comes to banking, we strive to deliver beyond “just a secure software”, and the award we received from Santander recognizes our additional commitments to excellent customer service, great availability, ­­and our drive to keep to the deadline during the implementation of the project.

For a bit of background surrounding the wins, any company that works with Santander is eligible to be nominated for their awards and this year alone, the bank has worked with more than 3,000 suppliers. Santander selected approximately 20 vendors as leading providers, based on criteria selected by internal managers and determined the winners based on evidence as to how well these criteria had been fulfilled over the past year. It is also worth mentioning that alongside our Central Issuance Solution award, Thales also won an additional award as the Best IT Provider of the year.

We are incredibly proud of all the hard work our teams have put into our partnership with Santander and, at a time when customer expectations in this sector are undergoing rapid change, we are happy to deliver a reliable, secure and field-proven EMV personalization solution that can manage every step of the EMV card personalization process.

If you would like more information about our EMV isolutions.