The June 2024 report outlines how many financial institutions remain trapped in legacy card processing systems, limiting their ability to meet evolving consumer demands. Modern platforms with real-time data, digital issuance, and advanced digital experiences are key to attracting and retaining cardholders while reducing operational costs. Top drivers for upgrading include enhancing digital experiences, lowering processing expenses, and boosting top-of-wallet usage. Transitioning to transformative card programs enables FIs to compete more effectively, cut expenses, and deliver superior customer and digital engagement.

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