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ReDXpress™
ReD Consulting has identified six business areas representing its core business principles. ReDXpressTM helps our consultants produce consistent results, so that our clients can successfully meet their strategic objectives, manage exposure and maintain competitive advantages.
Customer Acquisition:
Includes requirements for systems used to acquire new customers.
- Marketing and analysis: marketing strategy and related issues
- Product management: management of new and existing products, and roadmap to stay competitive
- Customer relationship management: truly understanding customer interactions in order to make intelligent decisions
- Application processing: analysis of credit-worthiness for new accounts
Customer Management:
includes requirements related to systems managing customer accounts.
- Servicing: typical customer service functions e.g. customer enquiries; account maintenance.
- Collections: management of past due and potentially past due accounts
- Credit management: management of assessing ongoing credit-worthiness for existing accounts, including credit line increases and decreases
- Dispute management: management of account disputes e.g. retrievals processing; chargebacks.
- Risk management: management of fraud, and other areas of portfolio risk.
Transaction Processing:
includes the requirements related to the systems that process transactions.
- Cardholder accounting: the core of the issuing function of card processing, e.g. pricing, and monetary posting
- Merchant accounting: the core of the acquiring function of card processing, e.g. settlement, billing, pricing, and profitability reporting
- Financial management: for cardholder and retailer portfolios, and financial analysis and reporting.
- Transaction management: ability and means to receive and transfer transactions to other financial institutions
Enterprise Management:
includes requirements related to the central systems controlling an organization’s enterprise.
- Platform architecture: general architecture issues
- Intelligence processing: use of automated decisioning; scoring; neural engines
- Data warehousing: storage, retrieval, and use of data from an organization’s portfolio
- Compliance: with association, legal, accounting, and other rules and regulations
- Security: all aspects of an organization’s authorized systems usage and data.
Electronic Delivery:
includes the requirements related to the systems which link external interfaces.
- Authorization processing: systems authorizing transactions for processing
- Switch / network management: systems that drive the routing of transactions
- Service channel management: management of automated service channels e.g. internet, telephone, and mobile technologies
- Interface management: management of all other interfaces, internal and external.
Production Services:
includes requirements for systems which issue plastics, manage retail supplies, create statements and correspondence; and management of marketing material for existing customers.
- Access device management: management of plastics and other account access devices. Also management of new terminals and other devices related to retail processing
- Personalization: new plastics, including embossing, chip management, application and key management, and magnetic stripe encoding or any other device used
- Statementing: generation of statements for both cardholder and retail accounts
- Ongoing marketing: marketing of existing accounts in order to stimulate usage.
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