First Business Bank Partners with CorServ for Improved Credit Card Issuing to Commercial Customers
First Business Bank (FBIZ), a $3.8 billion bank based in Madison, WI, has partnered with CorServ to enhance its credit card services for commercial customers. The bank is transitioning from an Agent Bank referral model to CorServ's hybrid issuing model to gain more control over its credit card program and improve customer experience.
The partnership will enable First Business Bank to offer commercial, business, and consumer credit cards with modern features including: a mobile application with receipt management, expense reporting capabilities, customizable reports with Level 2 and 3 transaction data, and self-service interface for business administrators. This strategic move aims to help FBIZ better compete with large issuers while strengthening customer relationships.
First Business Bank (FBIZ), una banca da 3,8 miliardi di dollari con sede a Madison, WI, ha stretto una collaborazione con CorServ per migliorare i servizi di carte di credito destinati ai clienti commerciali. La banca sta passando da un modello di referral tramite Agent Bank a un modello ibrido di emissione di CorServ, al fine di avere un controllo maggiore sul proprio programma di carte di credito e offrire un'esperienza cliente migliorata.
Questa collaborazione permetterà a First Business Bank di proporre carte di credito commerciali, aziendali e per consumatori dotate di funzionalità moderne, tra cui un'app mobile con gestione delle ricevute, capacità di reportistica sulle spese, report personalizzabili con dati di transazioni di Livello 2 e 3, e un’interfaccia self-service per gli amministratori aziendali. Questa mossa strategica mira a consentire a FBIZ di competere meglio con i grandi emittenti e rafforzare le relazioni con i clienti.
First Business Bank (FBIZ), un banco de 3.8 mil millones de dólares con sede en Madison, WI, se ha asociado con CorServ para mejorar sus servicios de tarjetas de crédito para clientes comerciales. El banco está cambiando de un modelo de referencia de Agent Bank a un modelo híbrido de emisión de CorServ para obtener mayor control sobre su programa de tarjetas de crédito y mejorar la experiencia del cliente.
Esta asociación permitirá a First Business Bank ofrecer tarjetas de crédito comerciales, empresariales y para consumidores con características modernas, incluyendo una aplicación móvil con gestión de recibos, capacidades para reportes de gastos, informes personalizables con datos de transacciones de Nivel 2 y 3, y una interfaz de autoservicio para administradores de negocios. Este movimiento estratégico busca ayudar a FBIZ a competir mejor con los grandes emisores y fortalecer las relaciones con los clientes.
퍼스트 비즈니스 뱅크(FBIZ)는 매디슨, WI에 본사를 둔 38억 달러 규모의 은행으로, 상업 고객을 위한 신용카드 서비스를 강화하기 위해 CorServ와 협력하고 있습니다. 은행은 Agent Bank 추천 모델에서 CorServ의 하이브리드 발급 모델로 전환하여 신용카드 프로그램에 대한 통제력을 높이고 고객 경험을 개선하려고 합니다.
이번 파트너십을 통해 퍼스트 비즈니스 뱅크는 영수증 관리가 가능한 모바일 애플리케이션, 비용 보고 기능, 레벨 2 및 3 거래 데이터가 포함된 맞춤형 보고서, 비즈니스 관리자용 셀프 서비스 인터페이스 등 현대적인 기능을 갖춘 상업용, 비즈니스 및 소비자 신용카드를 제공할 수 있게 됩니다. 이 전략적 조치는 FBIZ가 대형 발급사와 경쟁력을 높이고 고객 관계를 강화하는 데 도움을 줄 것입니다.
First Business Bank (FBIZ), une banque de 3,8 milliards de dollars basée à Madison, WI, s'est associée à CorServ pour améliorer ses services de cartes de crédit destinés aux clients commerciaux. La banque passe d'un modèle de recommandation Agent Bank à un modèle hybride d'émission de CorServ afin de mieux contrôler son programme de cartes de crédit et d'améliorer l'expérience client.
Ce partenariat permettra à First Business Bank de proposer des cartes de crédit commerciales, professionnelles et grand public avec des fonctionnalités modernes, notamment une application mobile avec gestion des reçus, des capacités de reporting des dépenses, des rapports personnalisables avec des données de transactions de niveau 2 et 3, ainsi qu'une interface en libre-service pour les administrateurs d'entreprise. Cette démarche stratégique vise à aider FBIZ à mieux concurrencer les grands émetteurs tout en renforçant les relations clients.
First Business Bank (FBIZ), eine Bank mit einem Volumen von 3,8 Milliarden US-Dollar mit Sitz in Madison, WI, hat eine Partnerschaft mit CorServ geschlossen, um ihre Kreditkartenservices für Geschäftskunden zu verbessern. Die Bank wechselt von einem Agent-Bank-Empfehlungsmodell zu CorServs Hybrid-Ausgabemodell, um mehr Kontrolle über ihr Kreditkartenprogramm zu gewinnen und die Kundenerfahrung zu optimieren.
Die Partnerschaft ermöglicht es der First Business Bank, kommerzielle, geschäftliche und Verbraucherkreditkarten mit modernen Funktionen anzubieten, darunter eine mobile App mit Belegverwaltung, Ausgabenberichterstattung, anpassbare Berichte mit Level-2- und Level-3-Transaktionsdaten sowie eine Self-Service-Schnittstelle für Geschäftsadministratoren. Dieser strategische Schritt soll FBIZ dabei helfen, besser mit großen Emittenten zu konkurrieren und Kundenbeziehungen zu stärken.
- Enhanced control over credit card program through transition to hybrid issuing model
- Introduction of modern features including mobile app, receipt management, and expense reporting
- Expanded product offering with commercial, business, and consumer credit cards
- Improved competitive position against large issuers
- None.
Insights
First Business Bank's partnership with CorServ enhances credit card offerings, improves customer control, and strengthens competitive positioning against larger issuers.
First Business Bank's strategic shift from an Agent Bank referral model to CorServ's hybrid issuing model represents a significant operational upgrade for this
The new partnership delivers several competitive advantages:
- Direct participation in credit decisions, allowing for more relationship-based lending
- Enhanced expense tracking capabilities through a mobile application with receipt management
- Customizable reporting including Level 2 and 3 transaction data - essential for commercial clients' expense management
- Self-service interfaces for business administrators, reducing operational friction
This move addresses a fundamental weakness in many regional banks' service models. By bringing card issuance capabilities in-house through CorServ's platform, First Business Bank positions itself to compete more effectively against larger financial institutions while maintaining their relationship-focused approach.
The integrated expense reporting functionality is particularly valuable for their commercial banking clientele, as it addresses a common pain point in business expense management. This creates both retention value for existing clients and potential acquisition opportunities in their target market of businesses and business leaders.
From a strategic perspective, this represents First Business Bank's commitment to technology investment while maintaining their specialized banking focus. Rather than attempting to compete with national banks across all product lines, they're enhancing their core commercial banking proposition with modern tools that address specific client needs in payments processing and expense management.
First Business Bank, a
The First Business Bank team made the move to CorServ's hybrid issuing model from an Agent Bank referral model to improve their overall experience, gain more control over their credit card program, participate in credit decisioning and strengthen relationships with their customers.
"We focus on building strong partnerships with our clients, and that involves understanding their unique individual needs. Processing payments consistently and efficiently, whether it's for business travel or an office purchase, needs to be both convenient and reliable. Card payments are also known for being difficult to track, which is why we are excited to introduce a mobile application with receipt management capabilities and expense reporting built into the online system. This aligns with our strategy to deliver tailored financial solutions that help our clients achieve their goals," said Melissa Fellows, Senior Vice President – Managing Director of Treasury Management at First Business Bank. "We're pleased that CorServ's credit card program will enhance our ability to serve our clients with modern tools that meet their needs."
Through CorServ, First Business Bank will offer commercial, business and consumer credit cards. Bank customers will have access to a modern self-service interface with cardholder management capabilities for business administrators, customizable reports including Level 2 and 3 transaction data, and an integrated expense reporting module. First Business Bank will leverage CorServ's innovative solution to retain customers and compete with big issuers in the market.
"We're excited to partner with First Business Bank to deliver a modern, efficient credit card program that benefits both their customers and employees," said Anil Goyal, CEO of CorServ. "Our robust suite of card products and customizable features gives banks greater control and flexibility, empowering them to better serve their communities while overcoming the limitations of the traditional Agent Bank model."
About CorServ
CorServ provides innovative payment card issuing, processing and program management solutions empowering banks and fintechs to successfully deliver credit, debit, prepaid, virtual, and purchasing cards. CorServ's turnkey credit card issuing program enables banks to earn a significantly higher ROA than the typical Agent Bank model, access cardholder data, and participate in credit decisions without adding staff or infrastructure. Banks can choose to be self-issuers leveraging CorServ's comprehensive technology and capabilities, and fintechs can embed payment cards into their platforms with CorServ's API-first issuer processor solution. For more information, please visit https://www.corservsolutions.com/
About First Business Bank
First Business Bank® specializes in Business Banking, including Commercial Banking and Specialty Finance, Private Wealth, and Bank Consulting services, and through its refined focus delivers unmatched expertise, accessibility, and responsiveness. Specialty Finance solutions are delivered through First Business Bank's wholly owned subsidiary First Business Specialty Finance, LLC ®. First Business Bank is a wholly owned subsidiary of First Business Financial Services, Inc®. (Nasdaq: FBIZ). For additional information, visit firstbusiness.bank. Member FDIC
MEDIA CONTACT:
Eden Dombrowa
281-733-3294
edombrowa@corservsolutions.com
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SOURCE CorServ
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