Europe Australasia China

Success Stories

Top 5 International Bank

Global Financial Services Co.

Global Mid-Size Sales &
Marketing Co.

Global Financial Services Co.

Background

Our client is one of the world's largest electronic transaction processing companies, headquartered in the USA. Our customer has operations located throughout the United States, Canada, the United Kingdom, Europe, and the Asia-Pacific region serving millions of consumers and merchants. These services include Hundreds of organizations and financial institutions and government agencies depend on our client for acquiring, processing, network communication, Internet, gaming and consumer money transfer services.

Highlights

  • Achieved 99.9% field accuracy within 2 months
  • Shortened cycle time of Merchant Payment slips processing to 4 hours
  • Expanded services to include scanning and workflow management
  • Achieved PCI compliance

Objective

Our client had just entered into a joint venture with one of the Top 5 International Banks. They did not want to invest in their own processing center at the time, so were looking for an external provider. As this bank was successfully working with M&Y already, our client decided to utilize M&Y as well. Apart from costs, quality was paramount for our client. In addition, they needed a vendor that had the ability to manage major fluctuations in volume coming from 11 countries in Asia.

The M&Y Solution

M&Y put a solution into place to capture and reconcile merchant sales draft data. The most challenging part of the solution was the required turnaround times. Data must be entered into the system and reconciled within 4 hours of receiving the batch. This included:

  • 4-Pass Data Capture System – Two data entry stages followed by a micro and macro data validation step
  • QA of 10% of all merchant data
  • Batch payment balancing & verification
  • Integration of imported data into settlement system

Results

Upon the successful outsourcing of data capturing, we achieved the following:

  • Achieved 99.9% accuracy within 3 months
  • Shortened cycle time of Merchant Payment slips processing to 4 hours
  • Expanded services to include scanning and workflow management
  • Achieved PCI compliance