It was required to provide the entity’s members with the services of the different business units, using the identification method defined as a membership card.
Through the outsourcing processing service provided by our strategic alliance with Redeban Multicolor, we implement the following services:
- Payment of subsidies with a prepaid debit card.
- Customer loyalty plan, with cash back through a wallet account.
- Revolving credit limit for use in purchases (Redeban data phones) and cash advances (Servibanca ATMs).
- Network of agreements with other businesses for credit quota acceptance.
- Mobile financial services. Use of mobile phones for money transfers.
- Virtual payment transactions through the Colsubsidio transaction portal.
By the end of 2016, Colsubsidio had approximately 1.5 million members, 1.1 million subsidy accounts had been opened, 1.5 million loyalty accounts, 420,000 revolving credit slots, and was processing 1,360,000 monthly transactions including purchases, cash withdrawals/advances, and inquiries.
