Our customer is one of the largest banking
and financial services organizations in the world, comprising
of an international network across 76 countries with over
7,500 offices. In 2005, they invested in one of the top 5
national banks in China and formed a joint venture to launch
a new credit card.
Challenge
These two renowned banking corporations had a mission to
launch a new co-branded credit card in the booming Chinese
market place. As part of their strategic cooperation agreement
they would capitalize on the emerging credit card market to
become the leading domestic credit card issuer in China. The
success of this joint venture will be measured against brand
awareness and recognition in the market place, profitability
and their ability to minimize risk and maximize return on
investment. As a result, it was decided to outsource their
credit card application processing function to a business
processing outsourcing (BPO) company.
With the huge population base and large estimated demand
for credit cards, our client projected card sales to be in
the millions during the first year. Stringent guidelines were
developed in selecting a "best in class" BPO provider.
The BPO provider must demonstrate:
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Recognized industry experiences and
outstanding achievements on projects of a similar
scale. |
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Proven capacity to process an enormous
amount of credit card applications within very strict
turnaround times whilst achieving very high accuracy
levels. |
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The ability to provide a cost effective,
end-to-end solution which reflects true understanding
of their real needs. |
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The ability to deal with peaks and
troughs of workload which could vary from thousands
to tens of thousands of forms on a daily basis.
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Guaranteed data security and protection
of the highly confidential/sensitive information
captured from the credit card application forms.
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Commitment to continuous process improvements
in efficiency and price performance. |
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Solution
After careful evaluation and analysis, both banks
jointly chose to appoint M&Y Data Solutions to be their
exclusive BPO provider. M&Y Data Solutions designed a
customized solution comprising of three major components:
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Establishment of a dedicated scanning
centre inside our clients credit card centre in
Shanghai, operated and managed by M&Y Data Solutions
staff. |
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Constructing robust communication
protocols and system networks to guarantee critical
turnaround times and maximum security. |
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Provision of high quality, timely
and cost effective data capture services from M&Y
Data Solutions north and south China global delivery
centres. |
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Establishment of a dedicated scanning centre inside our
clients credit card centre, fully operated and managed by
M&Y Data Solutions staff.
M&Y Data Solutions took full responsibility in structuring
and assembling a dedicated document preparation and scanning
centre within our clients office building in Shanghai. After
setting up the centre, the scanning operation is run and managed
by M&Y Data Solutions staff. This fully functional scanning
centre undertakes a range of processes and services including:
document preparation according to the stringent requirements
set out by our client, application form and supporting document
scanning, image quality control, uploading of scanned images
to both of M&Y Data Solutions global delivery centres
for data capture, receiving completed data capture results
files from the global deliver centre, and distributing the
data capture results files to the main credit card processing
system.
The specific location of the scanning centre allowed our
client to remain in control of the physical documents, and
oversee the secure handling of their credit card application
forms. This solution also brings significant cost savings
by eliminating expensive logistical costs.
Constructing robust communication protocols and system
networks to guarantee critical turnaround times and maximum
security.
M&Y Data Solutions has set up a 2MB Private dedicated
communications line between Shanghai and Daqing to meet the
high security requirement on data transfer. Upon completion
of scanning, the images are uploaded to a dedicated ftp server
in Daqing's global delivery centre via the private line.
Provision of high quality, timely and cost effective data
capture services from M&Y Data Solutions north and south
China global delivery centres.
M&Y Data Solutions has constructed an exclusive data
entry office for our client in our Daqing global delivery
centre. A custom designed software module hosted on an FTP
server automatically detects the arrival of new batched images
from the scanning centre for data capture. The system will
automatically start to download images and distributes them
to assigned operators for data capture using a customized
data entry and QA system developed by M&Y Data Solutions.
A major advantage of this dedicated system is the achievement
of embedding data entry requirements and rules into the data
entry and verification software, which greatly improves the
data quality. Data entry operators then key and verify all
data contained within the images to achieve committed accuracy
levels of 99.95%.
Upon completion of data entry, the results and exception
files are collected, audited and presented in the required
format then returned to an FTP server in the Shanghai Scanning
Centre. M&Y Data Solutions sends confirmation to the our
clients credit card center upon completion. Then, M&Y
Data Solutions scanning centre staff in Shanghai arrange the
return of the hard copies of the application forms.
The average daily volume fluctuates between thousands to
tens of thousands of credit card application forms. M&Y
Data Solutions maintains keying record of over 200 million
characters per day during the peak of the initial project
launch. The whole process from the point M&Y Data Solutions
receives the physical credit card documents to uploading final
data capture results is completed within approximately 27
hours. This turnaround time far exceeds the projects original
objective.
Both banks have direct access to M&Y's Account Managers
and Delivery Manager in Daqing and Zhuhai. After two year's
co-operation, M&Y Data Solutions has built a strong business
relationship. M&Y Data Solutions is now a well-established
and critical partner of our clients' joint venture credit
card centre.
Benefits
M&Y Data Solutions has enabled the successful implementation
of a brand new operation for credit card administration, which
has provided the following benefits:
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Cost effective and customized operation. |
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Exceptional levels of data quality. |
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Better than anticipated response times. |
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Outstanding communication and control. |
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Robust Security Infrastructures. |
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Flexibility to facilitate rapid growth. |
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Commitment to innovation and process
improvement. |
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A true business partner with deep
expertise in BPO. |
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Customer Testimonial
"The implementation of M&Y' s outsourcing
solution has provided the bank with a robust scanning
and data capture solution for our rapidly growing business.
By outsourcing our scanning and data entry requirements,
we consistently receive an extremely accurate and timely
service, backed up by significant cost savings and excellent
customer service. In addition, M&Y Data Solutions
has demonstrated great flexibility in capacity, which
is essential in meeting the demands of our business.
By selecting M&Y, we are able to focus on our core
business without being involved in non-core functions
like scanning and data capture.
As a strategic business partner, I can recommend
M&Y Data Solutions for requirements on scanning
or data capture seeking to obtain a high accuracy rate,
tight turnaround time and a cost effective solution."
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--- Ron Logan, CEO |
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