#United States #Topeka #Capitol Federal #CorServ #commercial credit card

Capitol Federal® Savings Bank Partners with CorServ

In a move aimed at significantly enhancing their commercial credit card offerings, Capitol Federal® Savings Bank (commonly known as CapFed) has recently announced its partnership with CorServ, a company that specializes in innovative credit card issuing solutions suited for banks and fintech firms. This collaboration marks a strategic effort to provide businesses with improved flexibility, control, and efficiency when managing corporate expenses.

CapFed, headquartered in Topeka, Kansas, has been a reliable financial institution for over 130 years, emphasizing community engagement, sound lending practices, and exceptional customer service. With more than 40 branches across Kansas and Missouri and managing assets close to $9.8 billion, the bank has established itself as a trusted resource for business financial needs. Billy Skrobacz Jr., the bank's Executive Vice President and Chief Retail Operations Officer, stated, "Businesses across Kansas, Missouri, and beyond rely on us for tools that simplify financial operations, and our partnership with CorServ will help us enhance the commercial card experience for our customers."

The new partnership comes as a response to the increasing demand for comprehensive commercial credit card solutions. By collaborating with CorServ, CapFed has expanded its range of corporate products to include varied offerings like Corporate and Corporate Rewards cards, Purchasing and Secured Purchasing cards, and Purchasing Fleet cards. Each card type is designed to cater to diverse business expenditure needs, complementing the lines of credit that CapFed has traditionally provided.

More specifically, the Purchasing cards are noted for streamlining procurement and payment processes, especially for high-volume spenders. These cards can be provided in multiple formats—plastic, virtual, or ghost cards—incorporating configurable limits and rebate options to meet different business strategies effectively. The Corporate cards, on the other hand, are well-tailored for organizations that have multiple cardholders or higher credit requirements. They offer flexible payment cycles, automated rebates, spend controls, and optional expense reporting functionalities, making them an ideal fit for larger enterprises.

Additionally, Fleet cards will assist businesses in managing costs associated with vehicle operations. By capturing detailed data on fuel and maintenance and providing driver or vehicle-level controls, these cards will allow for more meticulous tracking and integration with other expense management tools.

Through CorServ's effective Account Issuer program, Capitol Federal aims to revamp their commercial card offerings while enjoying a higher direct margin compared to traditional agent referral systems. This enables the bank not only to maintain thorough oversight of their underwriting process and customer experience but also to access and utilize cardholder data efficiently.

Anil Goyal, the CEO of CorServ, expressed his enthusiasm for the partnership, stating, "We're pleased to welcome Capitol Federal Savings Bank to the CorServ program and support their efforts to expand commercial card options for their business customers. CapFed's longstanding commitment to the communities it serves aligns with our mission to equip financial institutions with scalable, modern issuing technology that meets today's commercial payment requirements."

As this collaboration takes shape, both Capitol Federal and CorServ are poised to redefine how businesses manage their financial transactions through cutting-edge payment solutions, fostering enhanced commercial opportunities for their customers. For more information about CorServ and its offerings, you can visit www.corservsolutions.com. Likewise, to learn more about Capitol Federal's extensive banking services, check their website at www.capfed.com.