CorServ (corservsolutions.com), a company enabling banks and fintechs with modern credit card issuing solutions, has entered into a partnership with Buckeye State Bank aimed at strengthening the credit card experience for the institution's retail and commercial customers.

The arrangement is designed to give the Ohio-based community bank's customers a broader set of card options backed by its local, relationship-driven service model.

Buckeye State Bank, headquartered in Powell, Ohio, has served its community for more than 140 years. The bank is committed to local, relationship-based banking, pairing hometown service with competitive products.

“Our customers count on Buckeye State Bank for practical solutions, local decision-making and a relationship they can trust,” said Shawn Keller, CEO at Buckeye State Bank. “This partnership with CorServ allows us to deliver a more competitive and flexible credit card program for both consumers and businesses, while continuing to provide the personal service and community commitment that define who we are.”

Buckeye State Bank moved forward with the partnership after identifying opportunities to improve its credit card program for customers, participate in credit decisioning and increase its profit potential. Participating directly in credit decisioning keeps approval decisions inside the bank, in line with the local decision-making its leadership emphasized. Working with CorServ, the bank offers commercial, business and consumer credit card options designed to match customer preferences.

On the commercial side, Buckeye State Bank will offer Corporate and Corporate Rewards cards, Purchasing and Secured Purchasing cards, and Fleet cards. These commercial cards complement the lines of credit offered by the bank, providing a more convenient way to make payments and manage cash flow.

Alongside its commercial products, the bank will offer consumer and business customers Low Rate, Platinum, Rewards, World/Signature, Premium/World Elite or Secured cards for personal finance and business needs. The announcement did not specify a rollout timeline for the new cards.

Through CorServ's turnkey Account Issuer program, Buckeye State Bank can earn higher direct margin than is possible under traditional agent referral structures, while maintaining greater oversight of underwriting, data and the overall customer experience. That model differs from agent referral arrangements, in which cardholders are typically referred to a third-party-managed program, leaving the bank with lower program economics and less visibility.

“We're pleased to welcome Buckeye State Bank to the CorServ program and support their efforts to improve credit card issuing for their customers,” said Anil Goyal, CorServ CEO. “Buckeye State Bank's longstanding commitment to Ohioans aligns with our mission to equip financial institutions with scalable, modern issuing technology that meets today's customer credit card expectations.”

Source: GlobalFintechSeries