In an effort to support a long-term telemarketing portfolio retention program, our client required the development of a process, using existing systems to outsort high-dollar credit card payments prior to their negotiation. The objective was to have the outsorting done in one Item Processing location, as there were multiple Remittance Processors involved.
The PRI team developed a process to outsort high-dollar credit card payments in Item Processing on prime pass, and use Vector:Sort to match them to a "Decision File" received from the credit card marketing department. We developed the process and controls to store the outsorted payments in "inventory" for up to 5 days, and use Vector:Sort to pass them against a new "Decision File" on a daily basis. Our team identified all system, reporting, and procedural changes needed to support this new process. Additionally, we oversaw all system development, testing, and implementation of the data communications/network changes.
The new process enabled our client to reduce credit card portfolio run-off by 25%.