First Bank partners with CorServ

Following this announcement, CorServ is expected to implement its modern credit card program into First Bank’s suite of solutions, in order to enable the financial institutions to provide credit card products to their consumer, business, and commercial users. 

First Bank will continue to deliver its personalised tools and expertise, alongside CorServ’s Account Issuer Program in order to meet the needs, preferences, and demands of its clients, while remaining compliant with the requirements and laws of the industry at the same time. 

More information on the partnership

First Bank is a subsidiary of FB Corporation, developed in order to provide customers with an improved experience and stability, with long-term planning that is set to optimise and accelerate their growth procedures. The financial institution had designed a relationship-driven approach to offer comprehensive and secure tools for customers in multiple industries, such as commercial and consumer banking, mortgage banking, wealth management, and more. 

CorServ represents a company that aims to optimise the way banks, financial institutions, and fintechs develop by providing them with payment methods, issuing processing, and program management services for credit, debit, and prepaid cards. Its expertise in the industry is combined with modern technology API solutions in order to deliver clients with the needed features for the secure and efficient development of their business. 

The Account Issuer Program was designed in order to offer credit card products with a variety of secure, efficient, and comprehensive APRs, rewards, and features. CorServ’s business administrative interface is expected to allow First Bank’s commercial and business customers to access an overall increased control over the process of issuing new cards, setting spending controls, alongside paying vendors with virtual cards in a fast and safe manner. 

At the same time, CorServ will provide First Bank with the possibility to own the credit card profits and losses, as well as to participate in the credit decisions that fit the needs of its customers the best. 

CorServ’s Account Issuer Program will focus on minimising the disruption, costs, and resources that are usually needed for typical card programs, while also prioritising the process of enabling First Bank to benefit from competitive products for all of their users. According to officials of the company, the partnership will accelerate the development process of First Bank, as well as its strategy to optimise the growth of family-owned businesses.