January 11, 2018
West End Bank, a customer-focused, community-driven Indiana-based bank, and Corserv, a company that empowers financial institutions to issue credit cards, signed an agreement that provides West End Bank business and consumer customers with Corserv’s suite of credit card products and services. As part of the multi-year agreement, Corserv will provide access to MasterCard credit card products that West End Bank will brand as its own, including cards that offer a variety of reward options such as cash-back.
“No one knows our customers better than we do, enabling West End Bank to make informed credit card approval decisions and deliver the best products and services to our consumer, business and commercial customers,” said Timothy R. Frame, President and Chief Executive Officer of West End Bank. “Our partner Corserv provides self-service portals for our customers and bank employees, back office processing and proven credit underwriting strategies that allow West End Bank to confidently enter the credit card issuing business.”
“Corserv is proud to empower banks to fully participate in the profitable credit card issuing business,” said Jerry Craft, CEO of Corserv. “Our turn-key digital solution, which includes account opening, card servicing, fraud prevention, marketing, analytics and branch support, enables West End Bank to own their customer loans and control their relationships while achieving significant financial benefits for their bank.”
For business customers, in addition to a low APR Business Platinum MasterCard and a Business Platinum Rewards MasterCard, West End Bank will offer Corserv’s Purchasing Card, which enables businesses to pay for authorized vendor purchases and travel with individual or consolidated statements and integration to expense reporting systems. Consumers will have a choice of a low APR Platinum MasterCard, a Platinum Rewards Card, or a World Rewards Card. The new credit card products were introduced to West End Bank customers in 2017.
About West End Bank, S.B.
Founded in 1894, West End Bank, S.B. is an Indiana-chartered savings bank that provides financial services to individuals, families and businesses through four banking offices located in the Indiana counties of Union and Wayne and seven additional limited service branches located within all Richmond Community…