Building the digital customer experience

How US commercial card teams are approaching user experience

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2020 may prove a pivotal year for the US commercial credit card market, for thousands of regional issuer banks and the millions of businesses and cardholders who rely on them.

Primary Research Whitepaper by CPI, in association with SpendLabs.

Building the Customer Digital Experience
How US Commercial Card Teams are Approaching User Experience

The Covid-19 lockdown up ended established practices in a dramatic way. Card usage dropped, but maintenance tasks spiked as administrators rushed to online ‘self-help’ tools to reduce credit limits.

Online portals took pressure off bank’s physical branch networks and call center staff. Digital suddenly became a risk mitigation tool in the age of social distancing. Banks also spotted an opportunity to remind clients of other, often-overlooked benefits of a well-structured digitally enabled commercial card program. For business continuity, virtual cards were suddenly a viable replacement for physical cards or checks, and preserved precious cash flows.

This CPI report, in association with SpendLabs, canvasses the views of leaders of commercial card teams at regional banks across the US on how they expect to improve the user experience in future. It also uncovers the digital strategies of the interviewees, to whom we are grateful for their time and opinions given in a stressful lockdown environment. It examines how their implementation plans work in practice and how they mesh with the broader digital visions of their banks.

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