Commonwealth Bank and Trust Co. of Louisville is using instant payment card-issuing systems from Dynamic Card Solutions of Englewood, Calif.
Dynamic announced Monday that the Commonwealth Bancshares Inc. unit is using the CardWizard systems at 11 of its 13 branches and plans to make the systems available at new branches as they open.
The systems let banks offer customers new and replacement debit cards immediately in a branch, instead of having them mailed to customers' homes.
Dynamic has said that customers are more apt to activate and use debit cards when banks and credit unions can offer them on the spot. People also like being able to replace lost or stolen cards at a branch, the vendor said.
Commonwealth Bank has $500 million of assets. Commonwealth Bancshares also owns First Security Trust Bank of Florence, Ky., and SMC Capital Inc., a Louisville investment advisory firm.
Donna Wieber, Commonwealth Bank's deposit account services manager and a senior vice president, said in a Dynamic press release that her company is the only banking company in the region that offers instant issuance. "We are providing our customers with convenience and security they can't find anywhere else, which is a great competitive advantage for us."
