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Card payment processor stands out in new data market

Data has skyrocketed from being a byproduct to becoming a core value proposition. Learn how this card processor used data to realign, transform, and expand its business.

Challenge

One of the nation’s largest credit- and debit-card transaction processing companies saw the industry headed toward commoditization and omnichannel. They were torn between knowing that they needed to innovate with new processes and technologies and continuing to serve their customers securely and efficiently. The organization needed a strategy not only to evaluate their existing technologies against newer, more nimble ones but also to manage risk while maintaining their current service levels.

Company leaders knew they’d have to rethink the very foundation of how they do business, and that included taking a hard look at their own capabilities and the gaps they needed to fill in order to affect change.

With the goal of expanding to other channels and creating competitive, new product lines, our client’s data scientists would need to access data more easily, including data that had previously been unavailable to them.

They realized a new data transformation strategy would be the key to moving quickly and keeping ahead of trends.

Solution

Having already made great strides toward creating a vision for the future, they needed expertise to guide such a transformation in a way that would align with their business strategy. They partnered with Fusion to help develop a roadmap to get there.

Together, we:

Created critical alignment between IT and the business
Shaped and refined a three-year data strategy and a data transformation strategy
Evaluated which technologies to repurpose or replace
Implemented new technologies and began data integration and migration
Identified change agents and thought leaders who would propel the organization to success

Outcomes

With a data transformation strategy and roadmap in place, our client was able to get ahead of the evolving payment-processing market.

Creating a data and analytics strategy based on new technological capabilities laid the foundation for creating new products to serve merchants’ changing needs. That, in turn, helped drive revenue growth and enabled merchants to personalize their services.

Through our work together, this company executed a fundamental internal shift in how the company sees its business offerings and achieved vision alignment across all parts of the business.