Case Studies

Pragmatix Enables the Launch of Secure, Easy Credit Card Programs

Bank of America is one of the world's largest financial institutions, serving individual consumers, small businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unparalleled convenience in the United States, serving 33 million consumers with 5,700 retail banking offices and more than 16,000 ATMs. As a result of its mergers and acquisitions, Bank of America is now the largest issuer of credit, debit and prepaid cards in the world based on total purchase volume, as well as the largest consumer and small business bank in the U.S.

Business Issue

• Develop a simple, easy to use tool to gather and validate customer information
• Implement an interface solution that is flexible and scalable for future growth
• Deploy a flexible, reliable web-based solution that requires minimal maintenance
• Solution must be able to process high volume sensitive data with transaction management capability

Business Results

• Reduced administration set-up time for new corporate credit card programs from 90 days to 15
• Supports variable programs
• Increased transaction volumes
• Increased first year revenues

In order to achieve Bank of America's ambitious goal of streamlining the application process for new corporate credit card programs, interfaces between its IT systems and other banking systems (such as TSYS) needed to be created and simplified. Revenues from these programs were often delayed 90 days due to the large amount of data that needed to be collected and entered. The current business process was not only slow and time-consuming for the bank but triggered significant paperwork on the part of the customer. To shorten the process of setting up new credit card programs, Pragmatix created a web-based application to gather and validate customer data, including interfaces which upload information to other bank systems (such as TSYS). With the required forms and instructions online, it's easier for the bank as well as their customers to gather and enter data - accurately and efficiently - through a secure, web-based self-service application. Bank of America provides basic customer login information and sets the account parameters. The customer provides detailed company information about contacts, default cardholder data, merchant category code groups (MCCGs) and billing. In addition, the customer provides detailed cardholder information including general information, authorization controls, cardholder limits and shipping information. The solution delivers complete company and cardholder extracts for TSYS account number creation. It also produces customized reports for authorized end users. The system gets new credit card programs - and the resulting revenues - flowing weeks sooner.