Piedmont Federal Savings Bank – New Innovations

Piedmont Federal Savings Bank is launching customer-friendly innovations to make banking simpler to manage, banking service information easier to find and to provide greater security to its customers. As Ginger Salt, vice president of marketing and business development, said, “Piedmont Federal is committed to customer-centric technology — things that benefit our customers and make banking easier and safer. Piedmont considers technology from the eyes of the customer.”

How are they doing all this? Several innovations have been developed, vetted, tested and are now ready to roll out to Piedmont Federal customers. A great deal of testing has occurred to ensure that these tools are user-friendly and function well with minimal effort. Included are:

Re-issued Debit Cards – Beginning this year, debit cards will be reissued as EMV chip cards (with embedded microchip technology). EMV stands for Europay MasterCard Visa (representing the three companies that originally invented the standard). The purpose for this change is to help prevent the creation of counterfeit cards when a debit card is presented manually for payment.

We can relate to the feeling of uneasiness when someone takes our debit card, and it seems to take more time than expected to pay. Nearly half the fraud events occur using the data strip on the back of current debit cards. The magnetic strip cards currently in use contain a static code that doesn’t change. Once the information is obtained, it can be used over and over again to create counterfeit cards until the fraudulent activity is noticed and the card is canceled. The microchip card will generate a one-time use code that prevents the creation of a counterfeit card. The one-time code changes with every transaction, so it cannot be duplicated.

Debit cards will be re-issued in a phased approach depending on when your card expires and other factors. The new card readers used by vendors will be able to accept the current card style in the interim.

Enhanced Website – The current website has been enhanced and will go live on February 29, 2016. New features include easier navigation (as a section is selected, the information options are shown at a glance versus using a dropdown box format), printable product brochures, multiple contact options and an enhanced security section. A one-minute preview of the new website will be available soon. Loan rates, deposit rates, product comparisons — all will be available to make it easy to select the best option for your financial situation.

The website also includes information about Piedmont Federal’s community involvement and opportunities for customers to participate. Coming up in April will be the Artizens event that showcases young artists from local high school art departments. In 2015, 84 selections were displayed at Piedmont Federal branches and the Gala Awards Event. Also in April, the Kernersville and Boone branches will host shred events. While the shred service is free, donations are welcome and will benefit local charitable organizations.

Piedmont Federal is proud of its heritage and its place in the development of the region. One section of the website is devoted to capturing that history as Piedmont Federal continues to evolve and encourage the on-going success of the communities and customers it supports.

Several technology enhancements are scheduled for later in 2016. They include the following:

Card Management – A debit card management and fraud prevention tool to enable cardholders to control when, where and how their cards are used is coming this year.

Remote deposit – Using remote deposit, customers will be able to make deposits by taking a picture of their checks and transmitting the images via their smartphones.

Piedmont Federal is committed to innovation technology that creates ease of use for its customers. If you have questions or need assistance, they are happy to help.