The competition for credit card customers is intense and issuers are investing more than ever to acquire customers. This year, the largest issuers anticipate increasing their marketing spend close to 35% as they seek to attract new customers.¹ With an average cost of around $200 to acquire a credit card consumer, and many more times that for affluent cards, issuers can’t afford to let slow customer service result in the loss of a potential new customer.

In an industry where time is money, issuers also need to be able to reduce the time to onboard new customers—the sooner a customer can go from application and approval to actively using a credit card, the faster they can become profitable for the issuer. And providing a positive issuance experience can also lead to new business in the future when the customer seeks additional cards or services. While providing a satisfying customer experience is important, credit card issuers can’t sacrifice compliance with disclosure and disclaimer requirements, a necessary part of the application process.