Case Studies
Our case studies below are grouped by area of expertise
Payment Products
Prepaid Profitability
Unlocking greater value from prepaid cardholders
Context
Historical focus had been on customer acquisition, with little investment in driving activation, usage and retention.
Portfolio had experienced significant attrition in recent years, materially impacting revenue and profitability.
Limited internal resources and expertise available to analyse current process inefficiencies.
Approach
Existing process mapping.
Remote analysis of portfolio and account performance data.
Development of customer segmentation model.
Identification of process improvements to maximise activation, usage and proactive retention.
Development of business case to support investment in customer management activity.
Deliverables
Mapping of customer journey (existing and recommended future-state).
Customer value and behavioural segmentation models.
Detailed portfolio performance report.
Recommended process enhancements and customer management campaigns, with accompanying business cases.
Outcomes
The client embraced diagnostic recommendations and commenced implementation of prioritised initiatives.
Prepaid Application Processing
Identifying application leakage
Context
Significant volumes of customer applications were failing to complete, resulting in material income leakage.
A high percentage of issued cards were not being activated, resulting in income leakage.
Limited tracking of the application journey contributed to limited awareness of performance issues.
Incomplete applications and non-activated cards were not being routinely chased to remedy.
Approach
On-site interviews with key stakeholders.
Existing process mapping.
Remote analysis of application and activation performance data.
Identification of process improvements to maximise application completion.
Development of chaser processes to maximise activation levels amongst issued cards.
Deliverables
Mapping of customer journey (existing and recommended future-state).
Detailed application and activation performance report.
Recommended process enhancements and customer management campaigns, with accompanying business cases.
Outcomes
Client embraced diagnostic recommendations and commenced implementation of prioritised initiatives.
Credit Card Portfolio Management Diagnostic
Developing a customer segmentation model and customer value management program
Context
Historical emphasis had been on acquisition of new credit card customers, with limited investment in ongoing customer management.
Whilst portfolio had experienced healthy account growth, spend and receivables growth in recent vintages had been under-performing.
No routine existing customer management program existed, leading to high levels of dormancy and attrition.
Approach
On-site interviews with key stakeholders.
Existing product profitability, portfolio performance and customer journeys / management mapped.
Development of customer segmentation model with 20+ lenses to reveal behaviours and profitability.
Development of performance tracking metrics.
Development of customer management program to drive increased activation, usage and revolving behaviour.
Deliverables
Customer value and behavioural segmentation models.
Recommended portfolio KPIs.
Recommended P&L and key driver reporting.
Recommended campaign management activity.
Outcomes
Client embraced diagnostic recommendations and commenced implementation of prioritised initiatives.
Card Portfolio Rebrand
Developing a customer communication plan for a 1 million + card rebranding program
Context
Following the sales of its retail banking business across the African continent, the purchaser was required to rebrand all issued cards within a fixed time-period.
The rebranding embraced debit, credit and prepaid programs (some cobranded) in 9 countries.
The purchaser’s objectives were to execute a seamless card re-issuance program (partially forced, partially organic), stimulate activation and greater usage amongst existing cardholders and communicate new product features.
Approach
On-site interviews with key stakeholders within group product function and across 9 countries.
Development of operational card reissuance plan and processes.
Identification of customer behavioural segments.
Development of customer communication plan.
Drafting of customer communication messaging.
On-site training and delivery of execution toolkit in each country.
Deliverables
Operational process flows for card re-issuance, customised to each market.
Customer segmentation model and communication plan.
Customer communication messaging (copy)
Execution toolkit customised to each market.
Outcomes
Client adopted recommended approach and executed a successful rebrand program across 9 countries.
Portfolio Scheme Conversion
Converting 1 million + credit and debit cards to new payment scheme
Context
Following a commercial agreement, the client was required to convert its existing consumer debit and credit portfolios to its preferred payment scheme.
The conversion embraced multiple products and retail customer segments and was to be executed both organically and via forced / accelerated migration.
The client wished to minimise customer impact and unlock customer value via the exercise.
Approach
On-site interviews with key stakeholders within group cards, marketing and product functions.
Development of operational card reissuance plan and processes.
Development of business requirements to support required systems changes.
Development of customer communication plan.
Drafting of customer communication messaging.
Development of tracking MI.
Deliverables
Operational process flows for card re-issuance.
Customer segmentation model and communication plan.
Customer communication messaging (copy)
Business requirements document for associated systems changes.
Operational process flows for card re-issuance.
Customer segmentation model and communication plan.
Customer communication messaging (copy)
Business requirements document for associated systems changes.
MI pack.
Outcomes
Client adopted recommended approach and executed a successful payment scheme conversion over an 18 month period.
Product Rationalisation
Reducing the cost of product manufacture
Context
The client had a small premium product portfolio (Visa Infinite), the profitability of which had materially fallen in recent years due to reductions in interchange income.
The client wished to review opportunities to reduce its costs and/or generate incremental income to improve overall portfolio profitability.
Approach
On-site interviews of key stakeholders.
Identification of costs associated with product manufacture and options to reclassify to more affordable program (Platinum).
Liaison with internal and external stakeholders including payment scheme, processor, concierge provider, card design agency and mailing house.
Development of customer communication plan.
Execution support throughout.
Deliverables
Recommended product rationalisation with conversion from Infinite to Platinum.
Development of BIN reclassification plan involving all stakeholders.
Development of customer communication plan.
Project management of conversion.
Outcomes
Client completed seamless conversion of program and reduced product costs by >50%.
Scheme Fee Reviews
Auditing and tracking scheme fees
Context
This NASDAQ-listed client wished to validate the accuracy of its payment scheme fees and benchmark them against market norms.
Rapid business growth had resulted in scheme fees becoming a much more significant contributor to overall portfolio costs.
The client wished to identify cost saving opportunities and better understand scheme fees so as to support more accurate cost forecasting.
Approach
Analysis of previous 12 months payment scheme invoice data.
Expected fees calculated using proprietary fee simulator.
Comparison of actual vs forecast fees.
Forensic examination of all billing events to determine appropriateness and opportunity to drive cost reduction.
Deliverables
Detailed analysis of payment volume data and scheme fees.
60-slide report summarising findings and detailing discrepancies, anomalies and potentially unnecessary service subscriptions.
Outcomes
10 anomalous / erroneous billing events identified.
24 cost saving opportunities recommended.
Total potential recurrent cost savings of $1.25 million identified.