cbsi Celebrates 50 Years in Business

Founded in 1972 by Robert “Bob” Conte, cbsi has for 50 years been the market leader in transaction account benefits. This tenure can only be accomplished by maintaining best in class service delivery, while also providing the flexibility, foresight, direction and expertise to help navigate the ever-changing challenges and opportunities of the transaction account benefits arena.

As the largest and most experienced provider in the industry, cbsi is strategically positioned to deliver a broad range of effective embedded bank card and FinTech platform benefits, motivating customers to acquire, use and retain client products. This includes service quality that minimizes customer friction and complaints, in a cost efficient manner, while continuing to innovate on product design and delivery mechanisms.

cbsi history, corporate focus, and expertise is uniquely suited for the transaction account benefits arena.

  • cbsi created the business of providing embedded insurance benefits as an enhancement to bank credit card accounts. This is evidenced by the fact that cbsi played a leading role in the credit card industry working group that drafted the insurance department regulations codifying the ability of banks to offer these programs, followed by cbsi being the first to successfully develop and roll out transaction account insurance benefits to multiple bankcard platforms.
  • The majority of the insurance and service benefits in the transaction account arena were created by cbsi. These benefits provide additional coverage and streamlined claim/servicing procedures allowing unique and differentiated value.
  • cbsi scope of service currently includes providing benefits for 18 of the top 20 issuers, more than 1,000 issuers in total, emerging FinTech’s, and all categories of transaction accounts. This not only allows cbsi unequaled industry experience and insight, but has made cbsi experts in the business critical areas of; plan design, coverage cost to benefit analysis and perspective on resulting customer behavior, customer identification procedures, communication methods, regulatory compliance, and funding options.
  • cbsi created and patented a business model (US Patent No. 7,831,468) and technology-based process known as BenefitSelectsm that provides unique methodologies for presenting a custom benefits. BenefitSelectsm allows for the delivery and tracking of benefits down to the individual customer. This capability allows for customer self-selection of benefits if desired, customer “opt-in” or fee based models, while continuing to deliver seamless cardholder servicing.
  • cbsi created and patented a business model (US Patent No. 7,831,468) and technology-based process known as BenefitSelectsm that provides unique methodologies for presenting a custom benefits. BenefitSelectsm allows for the delivery and tracking of benefits down to the individual customer. This capability allows for customer self-selection of benefits if desired, customer “opt-in” or fee based models, while continuing to deliver seamless cardholder servicing.
  • Recognizing that benefits can be provided as sponsor funded, cardholder funded, or a hybrid, cbsi created the “Trigger” model which delivers on the goal of matching benefits to specific customer transactions. The supporting infrastructure is in place and available to leverage in the event that providing specific activity-based benefits to customers (Do This Get That, Opt-In, Fee-Based, etc.) is a goal.
  • cbsi previously owned and operated a large third party benefits administrator. We made the strategic decision to sell that business and pioneer the Hub and Spoke operating model. Hub and Spoke allows cbsi to bring together strategic partners with unique category proficiency enabling superior, and seamless service delivery across a broad range of benefit types. This provides advantages including a breadth of services able to be provided via a single point of contact, ability to plug and play providers, operating redundancies in case of need, and inherent additional oversight, controls, and ongoing reinforcement of service quality through competition, benchmarking, and flexibility to change servicing locations if desired. Additionally, the separation of roles & responsibilities inherent to the Hub & Spoke model elevates the level of oversight across functional disciplines and customer touchpoints. cbsi’s independent oversight leverages our intimate understanding of contact centers, fulfillment, claim servicing, and technical aptitude in order to question, control, and remediate (where necessary) the many moving parts of Card Benefits.

As your adjunct team, cbsi shares your focus on the bottom line – and on maximizing your return on investment. cbsi provides transaction account benefits that are utilized in acquisition, activation, usage and retention strategies, possessing the intellectual capital and industry expertise to develop, underwrite, manage and service the benefits offered. This includes the legal, compliance and service delivery framework within which the transaction account industry must operate.

Clients say one thing over and over about cbsi - "They know how to get things done!"

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