Barclaycard chooses Experian for decisioning
Barclaycard is to implement a system produced by information solutions firm, Experian, to introduce more sophisticated logic in its application processing division, giving Barclaycard the ability to make more accurate new business decisions.
According to Barclaycard, the firm remains the UK's largest credit card issuer, accounting for one in five credit cards in consumer wallets. Barclaycard has a history of exploiting new technologies, such as Experian's Strategy Management Generation 3 New Business Decisioning solution. Deployment of Generation 3 within its application processing systems is expected to strengthen its multi-channel business.
"We are naturally keen to maintain the growth of our portfolio and, clearly, the application decisioning process is critical to achieving this," explained Keith Coulter, COO for Barclaycard UK Consumer Finance. "Barclaycard uses significant data sources and data intelligence not only to help accept or decline an applicant but also to determine the right product, terms, and other customer service opportunities."
Neil Stephenson, Experian's business development consultant for Barclaycard, added: "Strategy Management solutions have been deployed in over 50 countries around the world and have a proven track record. Generation 3 solutions are both multi-user and platform independent and this operational flexibility, combined with advanced strategy simulation, optimisation and intelligent reporting, puts true strategic control in the hands of the business."
The firm's new Generation 3 solutions employ customer-centric scorecard and decisioning technology for the targeting and acquisition of new business, through to day-to-day customer relationship management and development. The system can also support enterprise-wide CRM strategies.
Barclaycard claims 11.6 million customers and 13.8 million cards in circulation worldwide. More than 1 million customers regularly use Barclaycard's online account services.