TDB MongoliaTrade and Development Bank (TDB) has launched an instant card issuance project, along with Compass Plus, an international provider of retail banking and electronic payments software to payment processors and financial institutions.

TDB aims to make the process of obtaining a bank card easier for customers. With the help of TranzAxis Instant Issuance from Compass Plus, the bank will be able to issue a card on the customer’s first branch visit, providing a fast and seamless banking experience.

“We decided to introduce instant card issuance to not only drive customer loyalty but decrease the cost of internal processes – something that has always been crucial for the bank,” said Khatanbaatar.L, Head of Unit / Processing Unit at TDB.

“When we set about choosing a partner for the project, we had no doubts that Compass Plus was the right fit, as it has proved professional while meeting challenges of any complexity time and time again.”

Currently, the cards are issued by TDB branch tellers. The bank intends to roll-out self-service kiosks where bank customers will be able to issue a card without any assistance. This innovation will accelerate customer experience while reducing the bank’s operating costs.

Compass Plus and TDB have been partners for nearly 20 years, working together to implement several projects.

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by Krishna V Kurup
Senior Market Analyst at IBS Intelligence
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