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Atlantic Stewardship Bank Boosts Interchange Revenue More Than Seven Percent After Implementing EFT Source's Card@Once®
[October 20, 2014]

Atlantic Stewardship Bank Boosts Interchange Revenue More Than Seven Percent After Implementing EFT Source's Card@Once®


NASHVILLE, Tenn. --(Business Wire)--

EFT Source (News - Alert), Inc. announced that Atlantic Stewardship Bank, based in Midland Park, N.J. with more than $670 million in assets, has implemented its patented instant issuance solution, Card@Once®, and realized a 7.32 percent year-over-year increase in interchange revenue within the first month. EFT Source is a provider of turnkey card programs and personalization services for ATM and debit cards for financial institutions.

Atlantic Stewardship Bank selected Card@Once to increase customer service through the secure and flexible delivery of new and replacement debit cards. Following a 30-day implementation process at its headquarters, the bank installed Card@Once at five additional branches and delivers an average of 200 cards per month through their instant issuance solution.

When a customer requests anew or replacement card at the branch, Card@Once securely transfers the data from the branch location to EFT Source, where it is immediately processed, converted into an encrypted print file and returned to the branch electronically. Card@Once then encodes the data and delivers a ready-to-use, permanent debit card. Card@Once is also EMV-capable, reducing the operational cost of purchasing new equipment and supporting the bank's transition to chip cards.



"We were founded to provide quality financial services to our customers and meet their needs in every way possible. Instant issuance supports this by adding a new dimension of convenience by minimizing the impact of lost and stolen cards," said Barbara Komor, vice president, manager of operations and electronic banking for Atlantic Stewardship Bank. "Quickly delivering cards to our customers also strengthens our business. With Card@Once, we eliminate shipping costs, increase revenue and reduce the impact of data breaches, which have been a significant and persistent industry headache."

In the wake of a recent data breach, Atlantic Stewardship Bank leveraged Card@Once to minimize impact and delays in card replacement. Within 24 hours, the bank was able to identify and deactivate all compromised cards and invite each customer into one of its convenient branch locations to receive a replacement card immediately.


"Data breaches are occurring with such frequency that the question is no longer if a financial institution will be hit, but when," said Bill Dinker, president of EFT Source. "Instant issuance provides an entirely new level of preparedness for attacks and Atlantic Stewardship is a perfect example of that. The cost savings and convenience, which are great benefits during normal operations, are multiplied many times over when time is of the essence - strengthening the customer relationships and overall business even when dealing with fraudsters."

About EFT Source Inc.

Established in 1977, EFT Source provides more than 3,000 U.S. financial institutions with turnkey card programs and secure personalization of debit, credit and ATM cards under the VISA, MasterCard (News - Alert) and Discover payment brands from conceptual art to creative fulfillment services. Based in Nashville, Tenn., EFT Source also has a production facility in Colorado Springs, Colo. For more information, visit www.EFTsource.com.


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