Stronger together: How three New Zealand financial institutions transformed card issuing through collaboration
In an evolving financial landscape, three New Zealand financial institutions – First Credit Union (FCU), Police Credit Union (PCU), and Nelson Building Society (NBS) – joined forces to launch a unified debit card issuing program powered by Change Financial’s Vertexon platform.
Along with their core banking partner Finzsoft, this strategic collaboration helped them achieve shared business goals through greater control and expanded features for their card programs.
Discover how partnering with Change Financial turned a shared challenge into a powerful opportunity for growth, innovation, and long-term member loyalty.
Unified for impact: A collaborative banking transformation
When FCU, PCU and NBS set out to modernise their card programs, they weren’t just upgrading systems, they were driving a bold, cost-effective strategic transformation.
Individually strong and committed to serving their members, these three New Zealand based financial institutions recognised the power of collaboration in navigating a rapidly evolving digital landscape.
The challenge: Legacy limitations and a shifting issuer landscape
With the banking sector increasingly driven by customer expectations for seamless digital experiences, the consortium faced growing limitations and over reliance on a large bank card issuer. The need for greater control, enhanced service delivery, and future-ready infrastructure became too critical to ignore.
The solution: A future-focused partnership
To deliver on their vision, the financial institutions joined forces to transition to a modern card issuing and processing platform – introducing a next-generation debit card solution that is secure, feature-rich, and tailored to their members’ needs.
This dual partnership enabled the group to bring card issuing in-house, reducing dependency on legacy issuers and significantly improving flexibility and speed to market. By moving away from a legacy card issuer, they unlocked new opportunities to innovate on their own terms.
The result: Empowered financial institutions providing an enhanced member experience
- Elevated member experience: Members now enjoy faster card issuance, improved digital features, and a more consistent experience across touchpoints.
- Stronger strategic positioning: The ability to innovate independently gives the financial institutions a stronger competitive edge and long-term agility.
- Cost and time efficiency: Shared resources and aligned goals enabled the financial institutions to move faster and more cost-effectively.
Looking ahead
This initiative is a powerful example of how collaboration, the right technology partners, and a clear vision for the future can drive meaningful change. For First Credit Union, Police Credit Union, and Nelson Building Society, the foundations are now in place for long-term growth, innovation, and member satisfaction.
Ready to take control of your card issuing?
Whether you’re a credit union, building society, or financial institution looking to modernise your payments offering, Change Financial is here to help. From card issuing and processing to customisable digital experiences, our Vertexon platform empowers you to deliver secure, flexible, and future-ready payment solutions, configured to your unique needs.
Contact us today to discover how we can help transform your card program and deliver a better payment experience for your customers.
Solutions Used
Digital Payments & Wallets
Allow customers to securely pay using their mobile or smart watch with Apple Pay, Google Pay and Samsung Pay, or white label a mobile wallet.
Issuing
Deliver seamless management of physical, digital and virtual cards to your customers. Instant issue virtual cards allow your customers to pay without delay.
Payments as a Service (PaaS)
Allow Change Financial to manage every aspect of your end-to-end cards program. We can manage all your payment services for you, including loyalty program integration, SaaS and on premises offerings. We make it easy and cost-efficient.
Transaction Processing
Access all major card schemes including Mastercard, VISA, AMEX, JCB, UnionPay and Diners using our transaction processing.
