Artificial Intelligence Starting Points for Card Issuers

Guest post by Emily Rueth, Managing Director & Founder of Vicuse Payments Advisors 
For card issuers, embracing and implementing even the most basic use cases for artificial intelligence (AI) can revolutionize your operations and enhance customer experiences. Here are several starting points for consideration:  
 
𝐂𝐮𝐬𝐭𝐨𝐦𝐞𝐫 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐦𝐞𝐧𝐭 

• AI-powered chatbots are available 24/7 and handle basic customer inquiries. This frees up live agents to focus on more complex issues. 
  
• By coupling chatbots with authentication capabilities, immediate resolution of basic account inquiries (such as balances and recent transactions) becomes seamless. 

𝐅𝐫𝐚𝐮𝐝 𝐃𝐞𝐭𝐞𝐜𝐭𝐢𝐨𝐧 𝐚𝐧𝐝 𝐏𝐫𝐞𝐯𝐞𝐧𝐭𝐢𝐨𝐧 

• Generative AI analyzes vast data sets to identify unusual patterns associated with fraud. 
• Its adaptability allows it to stay ahead of evolving fraud tactics, providing continuous protection for cardholders. 

𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬 

• AI-driven analysis of customer data provides insights leading to improved campaign performance and anticipation of future needs. 
• These insights also empower issuers to craft personalized offers that lead to positioning their cards at the ‘top of wallet’ for customers. 

𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐑𝐢𝐬𝐤 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 

• AI-driven underwriting accelerates application processing from entry to decision. 
• Ai can scan portfolio data to detect early signs of financial difficulties among customers. 
• Conversely, it can identify high-performing customers eligible for credit line increases or targeted offers. 

 
𝐒𝐭𝐫𝐞𝐚𝐦𝐥𝐢𝐧𝐞𝐝 𝐃𝐢𝐬𝐩𝐮𝐭𝐞 𝐇𝐚𝐧𝐝𝐥𝐢𝐧𝐠 

• AI’s ability to swiftly review large volumes of data enables it to manage routine tasks within dispute and chargeback processes. 
• IT can transition reviews from a manual process to an automated one, helping to improve productivity and efficiency. 

AI isn’t just a buzzword--it’s here to stay. Be smart and leverage these powerful tools to optimize your card-issuing line of business. 

About Emily Rueth 
Emily Rueth is the Managing Director and Founder of Vicuse Payments Advisors. She has over two decades of experience working in issuing banks and now serves as a consultant and advisor to leading financial institutions and fintech firms. She focuses on developing card payment strategies and tactical plans that help issuers optimize revenue, mitigate risk, and enhance customer loyalty in an ever-changing payments landscape.