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Nationwide – Credit Card Interchange Fee Review

Improvements and recommendations estimated at £250,000 p.a. are identified by Savantor’s experts

Nationwide, under a new credit card management team, asked Savantor to undertake a review of the end-to-end interchange process.

The Critical Success Factors were to identify, and propose solutions for, weaknesses in processes and procedures in managing, monitoring and reporting interchange fees.

Savantor’s team undertook the following:

  • Re-engineered the policy and approach to verifying and settling claims from acquirers for overpaid interchange fees.
  • Provided guidance to the client on areas where the accuracy of interchange fee flows needed more rigorous review and investigation.
  • Advised the client on gaps in key interchange fee data, trend analysis and monthly reporting & variance analysis routines.
  • Identified a series of measures to improve the accuracy of interchange fee forecasting.
  • Identified areas for improved internal interchange fee governance and training.

Doug Tuson, Executive Director at Savantor, stressed how Savantor’s operational knowledge and practitioner experience was able to identify the improvements to achieve considerable potential savings.

"Our experience and expertise in this area enabled us to provide in-depth, insightful advice and guidance to the company’s credit card management team, thereby allowing the business to be better positioned to achieve its future commercial and financial objectives."

Features of this assignment:

  • Interchange fee claims, settlement processes and procedures.
  • The accuracy of interchange fee receipts and payments.
  • The interchange fee forecasting model used for planning purposes.
  • The use of available MI for business planning purposes and the adequacy of data held in the data warehouse repository.
  • The level of interchange fee awareness and knowledge of staff, and the training available to them.
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Client Quotes

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Credit Card Migration and Operational Support

"The bank has undergone significant transformation of its card business on both the issuing and acquiring sides. One business partner we have looked to for support in the areas of strategy, major project leadership, management analysis and ongoing business support is Savantor. The Savantor team has contributed to our success as we have leveraged their deep industry knowledge and broad range of operational skills."

Sean Sheehan, Service Management Director - Bank of Ireland

Acquiring market insight and strategy review

"Savantor brought an independent perspective and valuable insight that enabled Rabobank to ratify options for delivery and future growth and make informed business decisions in support of our target business model. Having used Savantor on a number of strategic projects, we have no hesitation in recommending their services to others."

Evert R Fekkes, SVP Payment & Savings Services - Rabobank - Nederland

Platform Selection & RFP Management

"OP-Pohjola Group has used Savantor in both acquiring and issuing for platform/service provider research, RFI/RFP processes and subsequent contract negotiations. Savantor's approach and commitment have always been very professional and transparent. They have been of great help for the company in providing us important insights and background information beyond vendors sales speeches."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Payments Platform Strategy and Sourcing

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with our team and actively contribute. Their experts quickly forged strong working relationships and delivered to our brief. We enjoyed working with them to develop our future platform strategy."

Evert R Fekkes, SVP - Payment & Savings Services - Rabobank Nederland

Acquirer Risk Assessment

"The expertise provided by Savantor has greatly helped us evaluate our risk position and to take the right steps in managing our future risks. Strong, disciplined planning and an ongoing willingness to work closely with our staff played an enormous part in making this a very successful well-delivered project which will greatly help us in achieving our business goals."

Mark Healy, Chief Risk Officer - NEOVIA Financial - UK

Complex Cards Business Transformation

"This was a major business transformation that required us to build an excellent team made up of internal bank specialists, supported by external card business, technical and operations expertise. Savantor provided specialists from the local market and with international experience to fill a variety of important roles. The Savantor resourcing team are professional, reliable and good people to work with."

Ricardo Gomez, Director - Operations & Technology - WiZink Bank - Spain

Credit Card Launch

"Savantor's knowledge and experience were the key differentiators in selecting them and they contributed greatly to the success of the product launch and the effectiveness of the ongoing operational service."

Toine Schepers, Operations Director - Primeline - The Netherlands

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