Credit Card Migrations

In some cases credit card service providers and banks need to move their backoffice to new IT systems. The cause may be a rationalisation of the IT-landscape, replacement of legacy systems, consolidation of payment products or even a merger. In addition to that, there seems to be a trend of unification of payment services that leads to new IT implementations.

Onboarding credit card portfolios into your state of the art IT-landscape can be a challenging transition. So many pitfalls, customer reputation at stake, big IT spending, overtime, overbudget, out of control or failure altogether. A succesfull credit migration results in smoothly transition in the new business environment. All this in a full 24/7 operation, with minimal interruptions and seamless financial processing takeover. While keeping this all barely visible for the cardholders.

These large-scale migration projects should be designed to maximize control and minimize risks. This requires a carefull approach and a flawless migration solution.

The combination of complex content and a complex cutover can make a credit card migration quite challenging:

• 24/7 Ongoing business, authorisations on pending balances requires a high performance migration
• High number of data elements (attributes) compared to other finance domain migrations
• High volume, large transaction history
• Diversity of product properties (grown over the years) – need to be rationalized to harmonise products.
• Diverse related card types: credit-, prepaid-, gift-, loyalty-, debit cards
• Complex company client card and billing structures.
• Multi-level limits, exposure and status management
• Open billing cycle migration can require calculations on payments and arrears

Credit Card Migration Factory

• Off-the-shelf integration framework
• Source & target independant
• Standard data quality checks
• Integrated control framework
• Built-in business rules & validations
• Auditable & traceable
• Standard control & reconcilliation reports

Data eXcellence used their in-depth migration and domain expertise to implement the Credit Card Migration Factory with the aim of carefully and controlled migration of credit card portfolios. This is achieved by the DX stepwise approach. Controlled and fully auditable, with early data migration tests to bring operational issues to light and gain full confidence.

Key succesfactor of the solution is the DX developed credit card business object model. This model acts as a stepping stone for onboarding just any credit card portfolio from just any legacy system to a modern, consolidated “multi-everything” card management platform. It has proven to be reusable over multiple migrations. This model is fitted with all business objects and rules for card usage and management. Like layered commercial and consumer client structures, limit & exposure, status management, transaction and  billing cycle history, financial open cycle take-over, authorisations, disputes and so on and so on.

DX managed to execute multiple successful credit card migrations. Want to learn more about the key succesfactors of complex credit card migrations? Leave your details here and we tell you all about it!