Pinnacle Financial starts instant-issue debit card service
Nashville, Tenn., April 28, 2010 -- Pinnacle clients now can start using their debit cards within minutes of opening a checking account or requesting a replacement card.
Pinnacle is the first bank in Tennessee to offer unembossed instant issue debit cards at all of its locations. Each of Pinnacle's 35 offices in Middle Tennessee and the Knoxville area can issue a debit card with a personal PIN number in two to three minutes. Previously, ordering and mailing debit cards typically would take about 10 days.
Unembossed debit cards work just like any other debit card but with a few advantages. Instead of being embossed with raised letters and numbers, the plastic cards are created using a new, flat card issuance technology that makes the card information easier to read. More importantly, it requires merchants to electronically process the transaction using the magnetic stripe, which helps reduce card fraud.
"Clients are amazed when they come in to open an account and can start using their debit card at ATMs and stores right when they leave the office," said Jamie Sweeney, Pinnacle's senior product manager. "Instant issue saves our clients wait time, is more secure than sending the card through the mail, and reduces the risk of identity theft."
Pinnacle worked with Dynamic Card Solutions (DCS) in Englewood, Colo., to implement the new, unembossed instant issue debit card program. DCS' CardWizard® software transfers all personalization data fully encrypted to an FCP 20/20 unembossed card printer, which quickly and securely prints high-definition color onto both sides of white blank card stock.
Clients also choose their personal identification numbers (PINs) when the card is issued. If a client loses a debit card, it can be replaced in a matter of minutes.
Pinnacle offers instant issue cards for all Pinnacle Checking accounts. The official bank of the Tennessee Titans, Pinnacle plans to extend the program to its Titans Checking accounts in the future.
About Pinnacle
Pinnacle Financial Partners provides a full range of banking, investment, mortgage and insurance products and services designed for small- to mid-sized businesses and their owners, real estate professionals and individuals interested in a comprehensive relationship with their financial institution. Comprehensive wealth management services, such as financial planning and trust, help clients increase, protect and distribute their assets.
The firm began operations in a single downtown Nashville location in Oct. 2000 and has since grown to over $5.0 billion in assets at March 31, 2010. In 2007, Pinnacle launched an expansion into Knoxville, another high growth MSA. At March 31, 2010, Pinnacle is the second-largest bank holding company headquartered in Tennessee, with 32 offices in eight Middle Tennessee counties and three in Knoxville. The firm was also added to Standard & Poor’s SmallCap 600 index in 2009. For more information, visit www.pnfp.com .
About Dynamic Card Solutions
Founded in 1996 and a wholly owned subsidiary of Dynamic Solutions International, Dynamic Card Solutions (DCS) is the leading provider of instant issuance and PIN selection solutions for banks, credit unions and retailers that issue EMV, contactless and magnetic stripe cards. With over 500 financial institution customers supporting thousands of active branches, DCS is the leading instant issuance provider for Visa® and MasterCard® debit cards worldwide. DCS is dedicated to meeting the needs and requirements of complex issuance environments, and has the experience to guide you through the procedures and processes required to implement a best-in-class instant issuance operation for contact and contactless EMV and magnetic stripe cards. For additional information, call +1 303.754.2000 or visit the Dynamic Card Solutions Web site at www.instantissuance.com .
Source: Company press release.