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Best Practice in Card Operations - Credit, Debit and Prepaid
VRL Financial News Publishing, June 2010, Pages: 172
Card products have traditionally been one of the most powerful tools for innovation and profitability in retail financial services, with their achievements in profitability and innovation underpinned by operational excellence. They combine consumer marketing skills, technology, credit-risk skills and innovation at a level not often witnessed in other banking products.
Many card programmes have had solid products with appropriate promotional marketing, but have lacked proper operational support, making it difficult to effectively service a loyal cardholder base and negatively impacting overall profitability
This report explores operations in different contexts- from the set up, to having an established operation.
This report presents the key success factors for achieving operational excellence. It explores all of the issues which affect the success of a new card operation and the sustained efficiency of an established one.
Many card programmes have had solid products with appropriate promotional marketing, but have lacked proper operational support, making it difficult to effectively service a loyal cardholder base and negatively impacting overall profitability.
This report explores operations in different contexts- from the set up to the established operation.
Recommendations are offered that can provide a solid blueprint for establishing and maintaining a world class credit card operation.
Card companies are operating in evermore competitive and regulated environments, with the regulatory changes in mature card markets such as Australia and the United States, acting as an indication of the controls that could be set to follow in other markets. It is important therefore that card companies include two factors in their organisational framework:
A structure that allows for continuous innovation
Corporate Social Responsibility
The report also looks at the accurately measuring and reporting corporate social responsibility efforts. Few card companies have the processes and procedures in place to follow the projects affects all the way to the bottom line.
Report format: PDF Single User License. Please enquire for Hard Copy option availability.
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