90-Day Card Solution Implementation Record Set By CoreCard Team

Friday 31 October 2003 05:29 CET | News

CoreCard Software has successfully completed the implementation of its CoreISSUE credit management and transaction processing system at Fingerhut Direct, a direct to the consumer marketing company.

The implementation at Fingerhut included 80 customized features, 11 custom interfaces to existing and external systems including those at Equifax and the conversion of existing accounts from Fingerhuts incumbent processing system. It also included the delivery of an initial version of CoreCOLLECT, a workflow-driven credit recovery application that is utilized by Fingerhuts in-house team as well as its outsourced collections service providers. CoreISSUE enables Fingerhut to operate its credit operations as a real-time enterprise with real-time feeds to existing systems such as the company?s order processing, fulfillment and online credit account application systems. Managers can access real-time customer data and up-to-the-minute transaction history, as well as react to customer demands by introducing innovative credit products and services in days as opposed to weeks or months required with other systems. The application?s real-time properties help reduce and in some cases remove the lag times from key business processes such as credit risk management by providing managers with the appropriate data in a convenient format as and when they are needed. CoreISSUE is an integrated issuing, credit account management and transaction software application. Private label card products as well as bankcard schemes are supported with inherent language and currency localization capabilities. CoreISSUE provides comprehensive account management functionality and real-time processing of payments and transactions including authentication, authorization, clearing, settlement, customer service, dispute management, statement processing and letters generation. The application was developed using the companys patent-pending CoreENGINE universal lending and credit transaction processing software platform. CoreENGINE contains libraries of pre-built components for the processing, billing and settlement of financial transactions which enable applications such as CoreISSUE to be built, deployed, operated and changed with less cost and greater speed. The platform?s open architecture and object-oriented design enables the introduction of new technologies as they emerge as well as ease of integration with a variety of third-party applications.

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Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce