Legacy Modernization for the World’s Largest Corporate Card Issuer

Client

The client is a global diversified financial services company and the largest issuer of corporate cards. It offers a range of credit cards, charge cards, and other payment and financing solutions to individuals, small and middle businesses, and corporates. 

Challenges

• Need to introduce a threshold option that would give cardholders greater flexibility in managing their purchase-to-payment cycle.
• Credit analysis process was highly inefficient and required automation to streamline it.
• Existing payment and credit authorization processes had fallen behind the market and were too inflexible to adapt to changing customer expectations.

LTM Solution

• Collaborated with the client to introduce add-ons through two identified work streams.
• Introduced a new feature called PayBuffer, with an assigned revolving line of credit facility, across various underlying systems.
• Developed a calculator application for the credit authorization process with a flexible design to integrate with their back-end legacy systems.
• Based the technology stack on the Microsoft .NET framework, jQuery, MVC, and SQL DB platform.

Business Benefits 

• Improved investors/customer experience with 24x7 information availability.
• 25% increase in positive business feedback because of application modernization.
• 12% of eligible charge card customers have opted for the PayBuffer plan.
• 50% reduction in maintenance effort after modernizing the payment and credit authorization processes.
• 400% reduction in time taken for credit analysis configuration to be processed within the same business day.