Fintech will enable debit card program for Bank of Queensland and Virgin Money Australia
Fiserv, Inc. (NASDAQ: FISV), a leading global provider of payments and financial services technology solutions, has been selected by the Bank of Queensland (BOQ) Group to deliver a card issuing and management solution that can support multiple brands and products for BOQ and Virgin Money Australia (Virgin Money).
BOQ and Virgin Money will leverage VisionPlus® from Fiserv, an end-to-end managed services solution that enables card issuing and processing with global economies of scale and integrated capabilities that span the card lifecycle.
The solution will initially be utilised by Virgin Money to support a new debit card program that will form part of the Bank’s comprehensive new digital offering. The service will be live for Virgin Money in 2020 supporting Virgin Money’s marketing launch of the Digital Bank in early 2021. VisionPlus will enable streamlined card issuance and management for both physical and digital cards, as well as in-demand functionality, such as the ability for customers to add cards to their digital wallet directly from Virgin Money’s mobile banking app.
"Banking is all about relationships and, increasingly, these relationships are built on a digital foundation," said Greg Boyle, CEO of Virgin Money Australia. "Offering seamless, end-to-end digital banking and payment services is an essential part of delivering on our commitment to making banking simple and rewarding for our customers."
Hosted in Australia and tailored for local requirements, VisionPlus supports both local and global card schemes. For financial institutions looking for scalable and cost-effective technology and operational support as they grow, the managed service solution offers a sustainable model in competitive markets like Australia.
"Fiserv has a long and successful relationship with BOQ and we are proud to help enable their digitisation strategy as they work to meet customer needs in a rapidly evolving market," said Kees Kwakernaak, General Manager of Fiserv in Australia and New Zealand. "The service-oriented architecture and open APIs of VisionPlus offer significant flexibility, facilitating delightful customer experiences and allowing innovative capabilities to be rolled out quickly."
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
About Bank of Queensland
Bank of Queensland (BOQ) is one of Australia's leading regional banks. We pride ourselves on building long-term customer relationships that are based on mutual respect and understanding. We have more than 160 branches across Australia and in each and every one of them you'll find us really getting to know our customers and recognising the things they need. It's how we've been doing business since 1874. We're one of the top 100 Australian companies ranked by market capitalisation on the Australian Securities Exchange and are regulated by the Australian Prudential Regulation Authority as an Authorised Deposit-taking Institution.
About Virgin Money
You probably know the Virgin brand – trusted globally and well-known for shaking things up and providing real alternatives when we think people deserve a fairer go. It’s in our DNA to challenge the norm and do things differently.
At Virgin Money, we’re passionate about helping people realise bigger possibilities through the delivery of beautifully simple and rewarding financial products, all backed by Virgin’s great customer service. We reject the notion of complex financial services. Instead we aim for clarity and simplicity in everything we do. Our current offering spans credit cards, home loans, superannuation, life insurance, income protection, home & contents insurance, car insurance and travel insurance.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale solution. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500, and is among FORTUNE Magazine World’s Most Admired Companies®. Visit fiserv.com and follow on social media for more information and the latest company news.
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Marketing & Communications Director
+852 5506 0228
Head of Corporate Affairs
Bank of Queensland
+61 439 540 960