TRENDS
Solutions for Success:
Ownership, Structure and Advocacy The Solutions for Success is an interview with long-time CBA partner SHAZAM. We sat down with Alex Jernigan, Regional Director of Sales to learn more about how SHAZAM helps Georgia’s community banks. SHAZAM is CBA of Georgia’s preferred service provider for debit, ATM network and processing. Is that all SHAZAM does? We’re the nation’s only independent debit network, processor and core provider serving community banks. ATMs and debit cards are where SHAZAM made its name, in fact, we pioneered the PIN-debit point-of-sale used world-wide today! But over the years we’ve also grown into a company that serves the needs of its partners. We have a core that emphasizes a best of breed approach. If you like a solution and it’s good for your bank, our core won’t charge you an arm and a leg to use it. What makes SHAZAM different? There are three ways SHAZAM’s very different: • Ownership: SHAZAM’s owned by our clients who can apply to become members, and most do. Our members then have a vote and voice in the direction of our company. • Structure: We’re structured as a nonprofit corporation. Since we don’t answer to shareholders, we can reinvest those dollars in new technology while keeping costs down to benefit our clients. • Advocacy: SHAZAM’s member owned structure means we advocate for community bank’s voice in the payments system. We represent you in the payments industry, on capitol hill, at regulatory agencies like the FTC and the Fed, on national payments boards, and through other committees where it’s important your voice is heard. What is your pricing philosophy? SHAZAM’s structure means we can offer lower prices because we’re not chasing wall street shareholder expectations. We don’t have automatic increases every year or hidden fees that eat away at your profitability. We work to make sure we don’t pass along fees for standard industry upgrades like EMV cards. This difference saves our clients tens of thousands of dollars over the life of an agreement.
I’ve heard your service sets you apart. Is that true? Just like the community banks we serve, personal, long-term relationships are in our DNA. No matter your size, you’ll see me consistently as I provide insights into the profitability of your debit program. You’ll also have regular access to SHAZAM executives who are nationally recognized experts. SHAZAM’s 24/7, US based Client Support will answer your call in 20 seconds or less and get answers to your issues within 24 hours. Maybe most importantly, our systems are up and running 99.994% of the time so your cardholders won’t be frustrated by unnecessary declines. How do you approach your relationships with Georgia bankers? I’ve been in or around the banking industry in Georgia all my professional life. I started as a banker and now enjoy helping community banks find solutions to run them. It’s a family affair for me as my wife is also a Georgia community banker. I appreciate and enjoy the relationships I’ve been able to cultivate over the years and like the fact I can bring products to aid in the success of Georgia community banks and their customers.
Alex Jernigan
Regional Drector of Sales SHAZAM
S e p t e m b e r / Oc t ob e r 2 0 2 0 | G e or g i a C o m m un i ti es F i rs t | 23
