Before investing capital into new ventures, they needed to ensure their current portfolios were in compliance with regulations.
A mid-sized North American private bank is interested in issuing new products and expanding their business. Before investing capital into these new ventures, they deemed it necessary to ensure their current portfolio of products was compliant with active regulations governing their market area.
PROFIT INSIGHT® was engaged to review all of the terms and conditions provided to the card holders and compare them against the current system settings for accuracy and alignment. PROFIT INSIGHT® also conducted calculations of consumer card statements to verify the integrity and accuracy of the system in calculating interest and applying proper fees.
After PROFIT INSIGHT® completed the in-depth review, the Client was confident in that the system settings and the published terms and conditions of their consumer credit card products were in proper alignment. During the engagement, PROFIT INSIGHT® discovered areas where minor adjustments could be made to increase future revenue. These areas were presented to the Client along with suggestions on how to implement these system wide improvements. Predictive models were created to verify the accuracy of system parameters ensuring alignment with portfolio attributes and card holder disclosures. Additionally, all current system settings were documented to assist in long term management of changes.