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Point – Credit Risk review for a new product launch

Point uses Savantor’s industry expertise to assess risk management issues and identify mitigation strategies

Point is an established provider of card payment terminals and payment gateways across Europe. Point Group and Point FI are now launching a new, managed service to provide Finnish merchants with payment processing for internet transactions and for the first time will be exposed to fraud and financial risks. A review of the ‘state of readiness’ of the new systems and procedures was needed before management could confidently proceed to launch the new product.

Savantor’s team undertook the following:

  • Evaluation of existing and planned risk management tools and procedures to ensure all risks were identified.
  • Assessment of business strategy and market strategy in respect of fraud, data security, merchant targeting and acceptance, and transaction screening.
  • Review of the risk management policies and procedures which would apply at each stage in the ‘merchant lifecycle’ for the new product.
  • Reviewing client work on risk quantification and exposure reporting.

Margaret Jennion, Risk and Collections Specialist at Savantor, highlighted how Savantor’s specialist expertise had benefited Point in the launch of the new product.

"Point had done a lot of good work on risk management as part of the preparation for the new product. However, like many organisations, they benefited from the broader knowledge of key risk issues brought by external specialists."

Features of this assignment:

  • Identification of a number of recommendations to improve risk management controls in preparation for the product launch.
  • Assisting with recognising the alerts and exception reporting that needed to be put in place to control the credit exposure in respect of the new service.
  • Identification of immediate next steps required, together with a framework for ongoing review and assessment.
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