Finance Monthly December 2019 Edition

44 www.finance-monthly.com FINANCIAL INNOVATION & FINTECH - CARD DESIGN e’ve witnessed a number of game- changing challenger banks launch over the past 4 years including the likes of Monzo, Revolut, Starling Bank and N26 all offering new and advanced technology resulting in a significant accelerant of changes within the card and payment industry. Challenger and neo-banks have the advantage of not being limited to technical legacy, allowing them to build agile systems. Unlike traditional banks, their systems enable them to quickly develop and launch new features and functionality based on user experience. Examples of these have been items such as easier access to foreign exchange, cryptocurrencies and gold, as well as being able to provide competitive conversion rates and easier ways to spend. Other examples include speedy account opening without visiting a branch, real-time alerts, advanced saving options, along with expense and business tools to limit administration. Many challengers do not have high street branches and therefore the physical card and packaging are the only tangible aspects of the banks. This intensifies the need for fresh innovative designs that not only stand out in the market but also portray the brand in a unique and creative way. The need for challenger banks to differentiate their card design from their competitors is rapidly rising as the market grows. Interestingly, these banks have been able to tap into the social media savvy demographic, encouraging them to spread the word through clever marketing campaigns, a move which is further boosting sign-ups. We are seeing design trends emerging such as the use of bright luminous colours, pearlescent and metallic inks, alternative card orientation, notches, tactile varnishes, coloured cores and different personalisation methods. One of the most noticeable new trends we are seeing is the rise of portrait orientated cards with the personalisation on the reverse. The reverse personalisation allows the bank and scheme logos to be the focus of the card, keeping the face clean and simple by moving the cardholder name, company name, PAN, expiry date and security code all printed on the reverse. This offers room for an eye-catching layout with few limitations. The new wave of CURRENT TRENDS IN CARD DESIGN Emily Lovelock Head of Sales at allpay.cards Emily Lovelock, Head of Sales at allpay. cards delves into the current trends in card design W