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White paper cover reads Instant Issuance - Considerations when choosing between Software as a Service (SaaS) or Software for Purchase (SFP)

Considerations when choosing between Software as a Service(SaaS) or Software for Purchase (SFP)

Within the consumer driven, on-demand transformation occurring in financial services today, instant issuance has emerged as a key centerpiece to meet evolving customer preferences at the branch-level.

The 21st century consumer wants a debit or credit card that does it all and can be inside their wallet within the span of a short visit to their financial institution. For banks and credit unions, implementing and delivering the “magic” of instant issuance to customers requires a number of considerations, with one area being particularly critical to their success: the ownership of the server that stores secure data and programs new cards.

There are two main solution models to choose between in this regard – Software-as-a-Service (SaaS), where the data is maintained in a secure cloud-service offered by the instant issuance supplier, and Software for Purchase (SFP), in which the institution owns the server and software. This white paper from CPI Card Group® provides information and insights on the various factors to consider when assessing instant issuance via a SaaS platform vs. a purchased and custom-built SFP platform, and helps financial institutions to determine which model is the best fit for their organization.

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