Elan Financial Gives Debit Card Holders More Control
U.S. Bank’s Elan Financial has created a suite of mobile services that allows cardholders to better control their debit card.
Elan Mobile Services, which helps cardholders reduce their fraud exposure, allows users to:
- instantly disable their debit card if it is lost or stolen.
- set location controls so they will be alerted if the card is used somewhere else.
- restrict online transactions if the user doesn’t shop online.
- set spending limits, which is especially helpful if the cardholder’s child uses the card.
In addition to controlling fraud, Elan’s services gives customers the ability to:
- perform account management transactions, including transferring money or checking a balance.
- set alerts if their card is used outside of set parameters.
- deny fraudulent transactions.
“Banks and credit unions that use Elan Financial Services for debit card processing are able to strengthen the relationship they have with their customers by offering mobile card controls,” said Troy Cullen, President, Elan Financial Services. “Not only will these mobile options help clients reduce fraud exposure, they increase cardholder satisfaction and usage of our clients’ debit cards.”
Financial institutions can choose which features they will offer cardholders, and have options as to how these features are delivered, including the My Mobile Money app or the bank’s own existing app.
“Giving our clients options on which services to offer, and how to deliver them, will allow them to tailor a card management program specific to their needs,” said Cullen. “Elan Mobile Services has options for any size organization on any budget.”
Elan announced the new services will be released later this year.