CorServ & First Business Bank Launch Advanced Credit Card Program

CorServ, a provider of comprehensive card program solutions for banks and fintechs, has announced a strategic partnership with First Business Bank. This collaboration aims to modernize the bank’s credit card offerings, enhance customer service, and give the bank greater control through CorServ’s hybrid issuing model.

Highlights

1. Background on First Business Bank

• A $3.8 billion bank headquartered in Madison, Wisconsin.
• Over 35 years of experience providing commercial banking, private wealth, and retirement plan services.
• Known for a client-first approach and delivering tailored financial solutions.

2. Strategic Shift from Agent Bank Model

• Transitioned from an Agent Bank referral model to CorServ’s hybrid issuing model.
• Gains more control over the credit card program, including credit decisioning.
• Enables a more integrated and seamless experience for clients.

3. Enhanced Features and Capabilities

• Offers commercial, business, and consumer credit cards.
• Provides a self-service platform with cardholder management tools for business administrators.
• Delivers customizable reporting, including Level 2 and Level 3 transaction data.
• Includes a built-in mobile app with receipt management and integrated expense reporting tools.

4. Focus on Client Needs and Efficiency

• Prioritizes reliable, trackable payment solutions for business operations.
• Aligns with First Business Bank’s commitment to personalized service and modern technology.
• Improves convenience and transparency for business purchases and travel expenses.

5. Benefits for Competitive Positioning

• Equips First Business Bank to compete with larger credit card issuers.
• Strengthens customer retention through advanced digital solutions.
• Leverages CorServ’s innovation to remain agile and responsive to client needs.

6. Leadership Perspectives

• Melissa Fellows (SVP, First Business Bank) emphasizes how the new program supports the bank’s client-focused strategy.
• Anil Goyal (CEO, CorServ) highlights the program’s ability to offer flexibility and overcome the limitations of traditional models.

The partnership between CorServ and First Business Bank is a significant step toward empowering community banks with the tools to deliver superior credit card programs. With enhanced control, advanced digital features, and a user-centric approach, this collaboration is set to redefine how business banking clients manage and benefit from card services.