US-based fintech provider FIS has launched a first-to-market solution named FIS Digital Issuance, which enables new consumers to access to their credit and debit accounts through mobile.
Once the card application is approved, cardholders can use a mobile app to securely set up their credit or debit card in their mobile wallet.
The cardholders can then start making purchases instantly using the app.
Additionally, the solution also provides cardholders with same-day mobile replacement option for lost, stolen or compromised cards.
This enables the cardholders to avoid the usual wait time of three to seven business days for a physical replacement card.
The new FIS Digital Issuance solution is available to FIS credit or debit card processing clients.
FIS payments and wealth head Jim Johnson said: “In addition to providing new cardholders with immediate access to their credit and debit accounts, FIS Digital Issuance also promotes a positive experience as cardholders begin their relationships with their new financial institution.”
Avidia Bank, a US-based community bank with $1.6bn in assets, is said to be the first financial institution to begin offering the new FIS solution.
The bank selected FIS Digital Issuance to provide added convenience for cardholders.
Avidia Bank digital banking AVP Todd Wood said: “With this new solution from FIS, our new card customers will now have immediate purchasing power.”