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Pinnacle Financial Partners: Credit Card Issuing-as-a-Service

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16 March 2022

Winner of Celent Model Bank 2022 Award for Banking-as-a-Service

Abstract

Pinnacle Financial Partners worked with Corserv Solutions to create a solution that enables US community banks to offer comprehensive credit cards to their customers while owning the full P&L for the program. Traditionally, banks have two choices to offer credit cards: a direct issuer model that requires high upfront investment or an agent bank program, which gives away the relationship to another bank. Pinnacle’s new innovative solution leveraging Corserv’s digital technology allows a bank to issue credit cards in 120 days and have access to bank-branded portals and mobile apps for end-to-end servicing without having to add staff.

We believe that packaging the necessary capabilities to enable others to offer financial products is at the heart of all Banking-as-a-Service propositions. The Account Issuer Program developed by Pinnacle and Corserv deserves to be wider known in the US banking community and is a deserving winner of Celent’s Model Bank 2022 award for Banking-as-a-Service.