Insight Center

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Begin With the End in Mind – Onboarding Millennials

I’m excited to have guest author, Docia Myer, Vice President of US Financial Sales at CPI Card Group, share her assessment of Instant Issuance Market Trends. Read on to find out whether you are meeting the needs of your account holders. — Greg


Docia Myer

Today’s consumers, particularly Millennials, value speed and convenience more than ever before. At least in part because young adults grew up with digital technology and on-demand services at their fingertips, they’re accustomed to being able to access the products and services they want quickly and seamlessly.

Instant debit and credit card issuance is designed for just that purpose—to enable financial institutions to immediately get cards in their account holders’ hands.

At CPI, we’ve learned that the average account holder uses his or her card within eight hours of receiving the card in an instant issuance environment. When they receive a card through central issuance, they wait an average of 7-10 days and only 90% of cards are, ultimately, activated. The rate drops even further when account holders are required to wait more than a week to get their cards.

If financial institutions want to be sure customers are activating and using their cards, instant issuance is certainly the way to go—particularly with Millennials. We’ve also learned through research that Millennials are nine times more likely to open an account if they are shown how quickly they’ll be able to use their debit or credit card at the very beginning of the process.

It’s not just Millennials, though. All account holders—from Gen Z to the Silent Generation—want to feel that their trust in a financial institution is well placed. The idea of going into a branch to open an account and walking out with nothing to hold—no card with money at their fingertips—is not appealing to anyone. What better way to gain trust with customers, old and young alike, than to physically hand them a live card at the time of account opening?

From a customer service standpoint, you’ll feel like a hero. If someone comes into your branch and says, “I need to talk to the branch manager—I lost my credit [or debit] card,” it’s wonderful to be able to say, “Here’s your card; your problem is solved.”

Similarly, instant issuance helps in fraud situations. If you get a list of compromised cards, the solution is simple—just phone everyone affected and ask them to stop by to pick up a brand new debit card.

Whether you are onboarding new customers, minimizing the wait time before customers can start using a card, or cutting out inconvenience associated with fraud, instant issuance sends the message that you’re on top of the situation and customers have nothing to worry about.


Watch Card Chat – Instant Issuance: Market Trends to learn how instant issue continues to deliver on evolving consumer needs.


EMV is a registered trademark or trademark of EMVCo LLC in the United States and other countries. ©2016 CPI Card Group Inc. All Rights Reserved

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