Proponents of these no-login solutions say this kind of preview not only improves a user’s experience; it helps the issuer in two big ways, namely:
- Moves issuer’s card to top-of-wallet position
- Reduces customer service costs (less requests into the call center)
Of course, issuers must first decide what information their financial institution (and its cardholders) believes is safe if exposed to the criminal element (keeping in mind that smartphone theft is on the rise). So long as no sensitive data, like account or card numbers, is revealed and no transaction capability is enabled on the home screen, the solution is likely viable.
The launch of a no-login solution is an excellent example of a financial institution that has completed a proactive risk assessment and is developing unique controls specific to the risk. Too many in the industry blindly assign controls, like logins, because that’s the way it’s always been done.
Balancing security with cardholder convenience is always going to be a challenge faced by community banks and credit unions. Yet, with the right combination of diligence, research, and creativity, striking that balance may become just a bit simpler.