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Ondot's Unique Digital Card Solutions in the UK Banks

By Banking CIO Outlook | Tuesday, January 08, 2019

Gary Singh, VP of Marketing and Strategy

Modern banking technologies have completely disrupted the way customers transact. Today, with the emergence of several advanced technologies, even traditional banks are beginning to deploy them in their business functions. As the new-generation customers now prefer highly customized, easy-to-use, and flexible online banking services, a provider like Ondot Systems can be a great partner for banks to gain significantly more market share in this current competitive space.

Ondot Systems is a leading mobile payment service provider serving more than 4,000 financial institutions in four continents of the world. Built on an API-based service-oriented architecture, the company's real-time platform gives financial institutions a competitive edge by increasing mobile engagement and empowering their customers to personalize, manage, and control how payments are made in the world of digital commerce today, leading to greater use of payment instruments. Ondot’s solutions use a scalable, expandable system that enables their clients to strengthen their relationship with cardholders while maintaining pace with innovation.

By working in context with customers, banks can offer integrative card experiences that also enhance the related financial services. Bankers know that the more active the users are, the better is their engagement offerings. “We enable issuers to create best in class card products by delivering premium user journeys,” says Gary Singh, VP of Marketing, Ondot Systems. Ondot is moving forward to further enhance security by adding dynamic CVV functionality to cards. The company can also ensure that cards are only active within the user’s location, which means that the stolen cards remain redundant.

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On behalf of their business expansion, Ondot is now developing new technological solutions, wherein they have created a new digital card services platform to support the customer engagement and drive innovation for UK banks. Powered by the next-generation learning engine, Ondot 's digital card services solution enables financial institutions to motivate customers to control payment cards much more effectively and encourage them to self- serve, through instant digital card issuance, secure, personalized user journeys, online and autonomous payments, efficient spending management, and location-based intelligence.

"We enable issuers to create best in class card products by delivering premium user journeys"

Ondot’s platform is based on micro-service architecture, enabling banks to design their card digitization strategy and roadmap in different stages or one go. The solution can be provided through multiple platforms, integrated into existing mobile banking apps via APIs/SDKs or using the Ondot mobile app with customized company branding. Ondot’s digital card services platform supports private label car credit, debit, and prepaid cards. The financial solutions offered by Ondot are highly beneficial for financial institutions to stay aligned with the customers’ need of the hour.

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