I.Q. [Innovation Quotient] award
Fiserv Inc.
Brookfield
www.fiserv.com
Innovation: CardValet
In a world of constant communication, financial consumers expect instant, real-time information.
CardValet from Fiserv is a card management and fraud mitigation tool that empowers cardholders to control when, where and how their debit and credit cards are used.
“CardValet provides real-time peace of mind and safeguards cardholders’ accounts by allowing them to customize their experience,” said Jayne Berthelsen, senior vice president, product and market development at Fiserv. “Screens are easily navigable and controls are intuitive.”
Launched a little more than a year ago, more than 365 financial institutions and 15,000 cardholders are currently using the CardValet application.
The app, available on Android and iOS, allows users to manage and track specific types of debit card transactions, quickly detect unauthorized activity, turn on and off card use capabilities – ideal for when a card is lost or stolen – and even set spending limits.
Shared card information is also available for parents using secondary cards for dependents or business owners deploying company credit cards.
CardValet is powered by Fiserv, but is activated through specific financial institutions. Clients are responding positively by adopting CardValet as part of their overall card program, Berthelsen said.
“In a world that is moving faster than ever before, Fiserv solutions such as CardValet help financial institutions remain at the center of their customers’ financial lives,” she said. “CardValet is a prime example of how Fiserv is meeting the demand for compelling and relevant financial services that are in step with the way people live and work today – financial services at the speed of life.”
