Featured Case Study: A1PlusSoft helped financial services firm achieve operational cost saving through third party platform
Among Top 5 Financial Services firms in US
- The client wanted to have a common processing platform across all the countries.
- The Canada unit had about 0.26 million customer accounts maintained on third party proprietary card processing system .This prevented our client of a major share in profits as well as resulting in additional processing and operational costs
- We were involved in this project right from the development phase till the implementation. It offered consulting support in data mapping phase. It was executed in a co-create mode with the client.
- The project used IBM Mainframe, to convert the data from source card processing system. The entire Canada credit card data was converted to VisionPLUS using a proven Conversion Methodology.
- We designed, built and tested several interfaces from VisionPLUS like Credit Bureau, Embossing, ATM, People Soft General Ledger, Insurance etc
- A suite of applications have been implemented along with Vision PLUS such as a Web based Customer Service application, Falcon for Fraud Detection, Triad for Behavioral scoring, IVR for Internet voice response etc.
- Reduction in the cost of maintenance of 0.26 million accounts by third party platform.
- Significant operational cost saving
- Significant reduction in cycle time for new business process
- Simplified and enhanced business process for large customer base and markets targeted
- Ability to increase volume of Cards due to availability of new features to customer in VisionPLUS
- Increase in profits as profits no longer need to be shared with third party processor