WiZink, a bank that specialises in credit cards & simple savings solutions, use Savantor’s migration, technical and business specialists to help ensure successful cards transformation
WiZink is a bank that specialises in credit cards and simple savings solutions that respond to its customers’ day-to-day needs. In June 2014, Banco Popular reached an agreement with Citibank to acquire its consumer banking business in Spain. In December of the same year, Banco Popular announced the agreement with Varde Partners to sell it a 51% stake in Bancopopular-e, which included Banco Popular’s own payment cards business and the one acquired from Citibank Spain. In June 2016, Bancopopular-e changed its brand to WiZink and its institution legal name to WiZink Bank, S.A.
The first challenge was to migrate cards from Citi. A programme was established to design and implement an End-to-End cards processing platform for over 1m Citi cards and in readiness for expansion to about 5m. The programme would also build the supporting business functions for a new bank, including Finance, Credit Risk, Fraud and Operations.
In common with other banks, change and complexity on this scale is an infrequent event and WiZink did not have sufficient relevant experience or resources in-house. WiZink asked Savantor for support due to their deep expertise in card migrations and business operations from previous programmes in Spain, UK and other areas of Europe.
Savantor provided deep experience and highly skilled consultants in crucial areas to complement the existing team. Savantor identified and supplied experienced individuals at different stages as the programme developed.
A large Savantor expert team spent 18 months helping WiZink establish the environment, prepare and integrate updated components, set up operations, then test and deliver a successful card migration and business transformation.