Jeremiah Lotz, vice president of product management at PSCU

PSCU, the payments credit union service organization (CUSO), has partnered with Ondot, the mobile payments service, to introduce a comprehensive alerts and controls solution.

The solution – which represents an evolution of PSCU’s current alerts offerings – can be fully integrated into credit unions’ mobile and online account management applications or delivered through PSCU’s digital experience platform. It uses advanced technology to offer alerts for account activity and spending limits, along with location-based controls for card usage.

“PSCU is committed to service excellence and focused on innovation. We continue to invest heavily in the digital channel in order to enhance offerings for our Owner credit unions, enable engaging member experiences and protect our Owners from fraud,” said Jeremiah Lotz, vice president of product management at PSCU. “We are excited to now offer the most robust tool on the market to deliver on that commitment.”

PSCU made the decision to partner with Ondot due to the company’s track record for delivering the most innovative, user-friendly mobile card control solutions in the country, enabling credit unions of any size to compete with top-tier banks. Features include convenient access through the digital channels so that members can set their preferences directly within the credit union’s mobile or online banking site; real-time notifications delivered via text or email alerts and push notifications, and in-app review of transaction details by members prior to contacting a call centre.

PSCU Owner credit unions choosing to implement the solution can expect to see lower fraud losses with card controls and real-time alerts which, on average, reduce the number of fraud attempts before action is taken from 2.87 to 1.05. Call volume to contact centre representatives is typically reduced, and card usage and top-of-wallet movement is increased as a result of empowered and engaged members.

“Members of our Owner credit unions will now have the ability to easily transact with their card on and off, set spending limits, even create real-time alerts, all to ensure they can seamlessly manage their finances. This is one of the many exciting developments in our mobile solution that our Owners can expect to see in the coming months,” said Lotz.

 

by Bill Boyle
IBS Intelligence Senior Editor
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