Laredo, TX: International Bank of Commerce (IBC), the flagship bank of International Bancshares Corporation has agreed to license SWITCHWARE® EMV technology for its chip card issuer processing.
Founded in 1966 to meet the needs of small businesses in Laredo, Texas, IBC was identified by Forbes magazine in 2014 as one of “America’s 100 Most Trustworthy Financial Companies.” Since its opening, IBC has grown from less than $1 million in assets to more than $12.4 billion, making it one of Texas’ largest holding companies. IBC now serves 90 communities throughout Texas and Oklahoma with 212 branches and 325 ATMs providing full service banking seven days a week.
The bank has long relied upon CSFi’s comprehensive SWITCHWARE solution for in-house ATM driving and card management, including debit card issuing and electronic payment and transaction switching support for their fleet of Diebold and NCR terminals.
The move to chip cards will ultimately affect every aspect of the bank’s operations. IBC will rely on CSFi’s decade of EMV experience in providing for secure card creation, maintenance and cardholder authentication.
SWITCHWARE’s EMV support functions will provide the bank with an “end-to-end” EMV solution for instant smart card issuance and maintenance, enabling conformance to both current and future EMV standards including:
- Installing a new Visa DPS interface (using custom data elements for EMV)
- Marking of existing mag-stripe cards for EMV issuance and notifying the banks Visa DPS EFT network or card production vendor using a common class field to designate EMV
- Providing issuer processing scripts, enabling the sending of maintenance commands from the processing system to the chip card
- System integration and setup for EMV issuer processing
- Network EFT Certification (Online transaction processing)
- CSFi remote system integration services for setup and conversion processing