JACKSONVILLE, Fla. — Call it a sign of the times, but the insurer for the majority of credit union and the processor for the majority of CU card programs have teamed up to make card fraud loss claims easier to file.
CUNA Mutual, the insurer for the majority of credit unions and card processor Fidelity National Information Services say their new jointly developed product, which has not yet been named, will enable the 2,300 credit unions that currently process card accounts with FIS and have CUNA Mutual card insurance to shave time and frustration off their card fraud claims process.
"Based on direct input from our credit union partners, CUNA Mutual and FIS recognized the need to streamline this process, formed a partnership and engaged five credit unions to pilot our technology solution," said Chuck Cashman, CUNA Mutual plastic card product executive. "Ultimately, this collaborative effort will make the process easier for our customers."
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"Card Services for Credit Unions recognizes how valuable this important innovation is for the credit union market," noted Robert Hackney, president of CSCU. "Through the unmatched industry leadership of these two organizations, credit unions now can reap the benefits from the combined innovation and stability of these two leaders. That's another reason why we're proud to have an alliance with FIS."
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