The EU General Data Protection Regulation (GDPR) law in May 2018. The core principle of GDPR is that personal data belongs to the person, not the organization that creates, holds or processes it. This article summaries the impact of GDPR in Card Instant Issuance Procedures.

EMV chip technology adoption has enabled issuers to efficiently fight “card present” fraud. However, consequently fraud is increasingly moving to “card-not-present - CNP” transactions which are performed mainly in eCommerce stores but also through mail & phone order.

In the past, the need for extensive investments had made the implementation of bank cards instant issuance systems, in many cases, impractical. Now, with CubeIQ new approach on Instant Issuance, financial institutions can issue cards simply and cost-effectively in their branches and other remote locations.

In the past, the need for expensive card personalization equipment has made in branch financial instant issuance service impractical. Now, with CIIS™ an Instant Issuance solution from CubeIQ which operates with several core banking and card management systems but also as a stand-alone product, Banks, Financial Institutions, Credit Card Companies, Credit Unions and Independent Service Providers can issue and personalize cards simply, easy and cost-effectively.

For several years banks and card issuing financial institutions are using a centralized approach in personalizing bank cards followed by the typical mail service for sending the card and the corresponding PIN to their customers. This process would take from 5 days to 2 weeks and in some cases up to 4 weeks.