Savantor - Making sense of complexity for 25 years

Case Study

Nationwide – Credit Card Interchange Fee Review

Nationwide

Improvements and recommendations estimated at £250,000 p.a. are identified by Savantor’s experts

Nationwide, under a new credit card management team, asked Savantor to undertake a review of the end-to-end interchange process.

The Critical Success Factors were to identify, and propose solutions for, weaknesses in processes and procedures in managing, monitoring and reporting interchange fees.

Nationwide

Savantor's team undertook the following

  • Re-engineered the policy and approach to verifying and settling claims from acquirers for overpaid interchange fees.
  • Provided guidance to the client on areas where the accuracy of interchange fee flows needed more rigorous review and investigation.
  • Advised the client on gaps in key interchange fee data, trend analysis and monthly reporting & variance analysis routines.
  • Identified a series of measures to improve the accuracy of interchange fee forecasting.
  • Identified areas for improved internal interchange fee governance and training.

Doug Tuson, Executive Director at Savantor, stressed how Savantor’s operational knowledge and practitioner experience was able to identify the improvements to achieve considerable potential savings.

“Our experience and expertise in this area enabled us to provide in-depth, insightful advice and guidance to the company’s credit card management team, thereby allowing the business to be better positioned to achieve its future commercial and financial objectives.”

Features of this assignment

  • Interchange fee claims, settlement processes and procedures.
  • The accuracy of interchange fee receipts and payments.
  • The interchange fee forecasting model used for planning purposes.
  • The use of available MI for business planning purposes and the adequacy of data held in the data warehouse repository.
  • The level of interchange fee awareness and knowledge of staff, and the training available to them.

Client Testimonial

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."
Adam Slater
Senior Manager - Banking - Nationwide Building Society - UK
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