The Apple Card changes the game in the digital finance sphere
Banks are playing catch-up after Apple Card launch with the adoption of Ondot systems which unlocks similar digital experiences.
That is because Apple Card redefines the card user experience around simplicity, transparency and privacy.
"Ondot Systems unlocks these capabilities for banks and credit unions of all sizes," says the company in a media release.
Apple is an established leader in simplifying user experiences. With its card, it put a stake in the ground for what a card experience should look like.
However, the Apple Card experience is heavily integrated into the Apple Pay app. With it, they are able to make using and managing a card faster, easier and more transparent.
But Ondot Systems, another Silicon Valley player, just 8 miles up the road from Apple, is making Apple Card style user experiences available to banks and credit unions of all sizes.
Over 4,000 financial institutions use Ondot's mobile card controls and alerts.
Furthermore, the company announced a suite of products to offer simplicity, transparency and control to all cardholders.
Whether they’re on iPhone or Android, Debit or Credit, Visa or Mastercard, it's simple to use.
On top of that, it has quick-to-market cloud implementation and white label apps. Leveraging Ondot’s existing real-time payment rails, financial institutions can be up and running in a matter of weeks.
<<It’s no surprise Apple focused on that feature so heavily during the Apple Card launch event,” says Vaduvur Bharghavan, Ondot’s CEO>>
“In our research, that feature is wildly popular with cardholders. For banks, it’s really an opportunity to take a moment of frustration for customers. As a matter of fact, they can turn it into a moment of confidence.
"Even better, banks can save money because customers can contact the merchant directly. They do not have to call customer service and file a dispute.”