In the financial industry today, consumers are advocates of choice. Financial institutions need to offer multiple card types that can be used in an omni- and multi-channel environment in order to remain competitive. As the current economy recovers from the recession, credit cards have grown in popularity as an essential tool for FIs to both develop and maintain strong customer relationships. Credit cards offer FIs an additional avenue to grow revenues by offering credit to customers for their day-to-day financial activities in place of small value, short-term loans. As the economy continues to grow and the recession slowly becomes a thing of the past, the demand for flexible credit products will continue to rise.

 

The TranzAxis Credit Card solution covers the entire credit card lifecycle management: taking into account both the customer and market requirements to help build a completely unique service. With comprehensive management and reporting tools,the solution provides financial institutions, merchants and merchant networks with everything they need to develop and manage multiple types of credit card programs to fit any customer need, from a simple charge card to a revolving credit card with complex business logic.

 

Product configuration options include:

  • Minimum payment calculation rules
  • Interest accrual rules
  • Commissions and fee calculation
  • Usage limits and restrictions
  • Debt repayment and delinquency management rules
  • Statement configuration and distribution

 

 

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