“A number of credit card issuers are evolving their digital services to meet multiple consumer demands, but it’s interesting that this change is not happening consistently as issuers pursue various initiatives,” said said Beth Robertson, Managing Director of Keynova Group.
WILMINGTON, Del. (PRWEB)
May 5, 2021
Keynova Group, the leading competitive intelligence company providing reliable analytics and benchmarking for digital financial services since 1999, today announced its credit card scorecard results for the second quarter of 2021. Among the digital channels examined for major card issuers, Discover retained its top spot, followed by a three-way tie between Bank of America, Capital One and Chase. The data also revealed new digital trends in credit card acquisition and service, including emerging capabilities around virtual assistant (VA) and chatbot deployments, as well as skills for smart home devices. , expanded access to credit and strengthened security capacities.
“A number of credit card issuers are evolving their digital services to meet multiple consumer demands, but it’s interesting that this change is not happening consistently as issuers pursue various initiatives,” said said Beth Robertson, Managing Director of Keynova Group. “Over time, we anticipate that this trend will help the industry move further towards standardizing the next generation of digital consumer services; However, it also shows that the competitive landscape is not static as there are currently many opportunities to excel through innovation and the establishment of new digital best practices. “
Credit card customer support is digitally evolving
Customer support is a key area of differentiation among issuers, with some continuing to increase their sophisticated VA tools while others have introduced basic chatbot offerings. While six of the 10 senders offer mobile chat, text, or instant messaging options for communicating with customers, a few offer cross-channel messaging to allow communication that started in the mobile channel to resume. late on the desktop or vice versa.
Issuers prioritize extended credit options for consumers
Several issuers have deployed new offers that help consumers build their access to credit, particularly around the linking of credit cards and personal loan concepts. Several issuers also allow the use of digital channels to transfer approved credit between card products, targeting the necessary credit towards the premium option.
Safety improvements come first
With the continued expansion of digital transactions, an array of robust security measures continue to be deployed. These include the deployment of the Click to Pay Secure Remote Commerce standard for tokenized transactions, virtual card numbers and merchant controls, tracking of recurring and duplicate transactions, and extended transaction alerts to assist cardholders. card to identify possible fraud.
Keynova Group’s semi-annual, evidence-based credit card scorecard objectively assesses 10 digital channels of the leading consumer credit card issuers in the United States and identifies new trends in the competitive landscape. With over two decades of experience benchmarking digital offerings from credit card issuers to consumers, Keynova’s Credit Card Scorecard reviews American Express, Bank of America, Barclays US (newly rated in Q2 edition 2021), Capital One, Chase, Citibank, Discover, PNC, US Bank and Wells Fargo.
For more information on the Keynova Group Q2 2021 Credit Cards Dashboard, please visit https://www.keynovagroup.com/scorecards/#credit-cards-and-lending.
About the Keynova group
Keynova Group is the leading competitive intelligence company providing reliable analytics and benchmarking on digital financial services for consumers and small businesses, including banking, credit cards, home loans and insurance. Formerly known as Keynote, Keynova Group Scorecards have served as a go-to source for leading financial services companies to gain competitive intelligence and actionable insights since 1999. The company’s proven methodology and highly detailed results help its customers to maximize the value of their digital channels to deliver a top-notch experience to customers and prospects.
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