Íslandsbanki has gone live with a credit card management app. The bank worked with Backbase to create an app that facilitates card management and delivers overviews of transactions and loyalty points. The project was completed to deadline and acceptance rates have so far exceeded expectations.
Íslandsbanki faced the challenge of migrating data, including loyalty offerings, from American Express to Mastercard. This project had an ambitious timeline, as implementation had to dovetail with the closure of American Express’ operations in Iceland. This was successfully reached, with go-live accomplished within six months. Results have been positive in the short-term, with the app achieving high penetration rates.
Having seen such success amongst the initial base of customers, the app will be rolled out to all segments. The bank says that the relationship with Backbase will continue into the future, with commercial banking and the public website on the roadmap for potential areas of collaboration.