Consumer Card Services: Executive Overview
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- Executive Overview
- Business Case
- Technical Summary
Legacy processing systems complexities. Inflexibility. Inability to adapt quickly to changing marketplace demands. Customer churn. Ever-changing fraud patterns. Increased competition and regulation. New customer channels. Pressure to reduce transaction costs. Business and technology convergence. Expensive and inefficient distributed card centers.
The challenge is on to update and refresh your financial services company's card offering while controlling capital expenditures and becoming more agile. Off-the-shelf products might address your current product requirements, but they often fall short in providing the flexibility to package an offering that creates lasting value in the market. What you need is a business model that can:
- Address a broad range of payment and lending products
- Allow your operations to define processes specific to your market needs
- Deliver efficiency multipliers beyond the per-transaction costs
- Quickly adapt to market and regulatory changes
- Use advanced fraud-beating technologies
- Enable products and services to be customized to the specific needs of your market segments
You also need a robust processing system that can provide the control necessary to optimize approvals in an environment where non face-to-face transactions and consumer-controlled delivery present new challenges for future profitable growth.
That's why EDS, an HP company, developed an agile card framework and utility. The framework uses a service-oriented architecture (SOA) to deliver a multilayered approach to card processing. As a result, discrete functions are isolated into separate layers. Since changes to one layer don’t affect the processes in the other layers, you can make changes faster and more efficiently and package those functions into innovative products.
The agile framework is delivered through regionally deployed agile card utilities that leverage EDS' global technical and business infrastructure. These payment card industry (PCI)-compliant shared service environments allow financial institutions to benefit from the economies of scale provided and avoid significant up-front capital investments.
The shared processing environment employs the latest technological and operational approaches – something that few card issuers can achieve by themselves. The result: immediate improvements in business performance and enhanced ability to gain market share. You transform your business efficiently and with minimal risk while developing a sustainable competitive edge in the payment card business.
With a flexible, end-to-end card-processing solution and plug-and-play options, we can tailor a solution that best fits your needs, such as:
- Card processing for a variety of products, including revolving credit, commercial/procurement, debit, gift, payroll, premium and prepaid cobranded/affinity cards
- Alignment of risk with reward through comprehensive assessment of credit worthiness, transaction-risk management and flexible pricing options
- Authorization tools that ensure enterprise risk policy is applied to every request
- Extensive issue/reissue controls, dispute resolution, cardholder maintenance, billing services and debt collection capabilities
- Integrated fraud tools that typically detect from 40 percent to 60 percent of fraud and reduce losses by 20 percent to 50 percent
With more than 40 years of card processing experience, 40 million credit card accounts, 2 million merchants, more than 5 billion card transactions processed annually, and with global operations that span five continents, EDS has a proven track record for helping card issuers maintain their competitive edge.
For instance, our stand-in rate and response time exceed the standards set by MasterCard® and Visa®. By choosing EDS, you can achieve:
- An authorization response rate of 99.97 percent
- An average authorization response time of 0.21 seconds
For more information about what EDS can do for you, submit a business inquiry.
Financial Services Industry
Behind the success of the world's leading financial institutions is an ally, EDS. Helping with CRM, business process outsourcing, check processing, and consumer card and loan services, EDS minimizes their costs and optimizes their productivity.