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First Data Integrates Austin Logistics' Predictive Analytic EarlyDetection System(TM) Into Its VisionPLUS(R) Payment Processing System in China
Wednesday September 26 8:00 AM
VisionPLUS(R) is a world-class card processing system that First Data launched in China in 2002. Not only has it been used by the large card issuers for their credit card solution, but it is also the outsourcing platform in First Data International's data center in Shanghai. It provides card processing services to First Data International's outsourcing clients in China, and it is increasingly used to deliver processing services to all developing markets in Asia.
Austin Logistics Inc. is a leading provider of analytic software and solutions that predict customer behavior. The EarlyDetection System is an analytic software solution that improves early-month-on-books credit card portfolio management by accelerating new account assessments.
"With China's explosive growth in unsecured credit issuance, the need to manage credit risk and credit opportunity is escalating," said Tom Miller, Senior Vice President, Worldwide Business Development, Austin Logistics. "Our EarlyDetection System is a proven solution that gives First Data International's customers in China the unique ability to manage risk and evaluate opportunity early on in the credit lifecycle -- from day one. The result is increased profitability due to the ability, from account origination on, to expand their relationships with essential customers, manage high-risk accounts and close fraudulent accounts."
"Having been in the market for the past seven years, we've found that managing risk has become a priority for most of the card issuers in Asia," said Nigel Lee, president, First Data International, Asia. "In June, we released the findings of a study we commissioned the Economist Intelligence Unit to conduct on the opportunities and challenges in China's emerging payments market. One of the key findings of the research was that most of the card issuers realize risk control bears great importance, and they are looking at ways to reduce risk exposure on lending. First Data International's collaboration with Austin Logistics on the EarlyDetection system is another example of us partnering with industry-leading companies to deliver innovative solutions to Asian regional cards markets. We are committed to driving innovation, providing the best-in-class technology and bringing value to our clients."
EarlyDetection gives First Data International's customers the unique and powerful capacity to reliably predict revenue, varying levels of account activation and fraud/delinquency risk.
About First Data International
First Data International, part of First Data Corp. (NYSE:FDC), is a leading provider of electronic commerce and payment solutions for businesses worldwide. The company serves a diverse range of markets, leveraging global scale through a local presence and maintaining focus on individual client needs. First Data International has more than 8,100 employees and operates across Europe, Middle East and Africa, Latin America, Canada, Australia and Asia-Pacific.
Serving over 5 million merchant locations, 1,900 card issuers and their customers, First Data powers the global economy by making it easy, fast and secure for people and businesses around the world to buy goods and services using virtually any form of payment. The company's portfolio of services and solutions includes merchant transaction processing services; credit, debit, private-label, gift, payroll and other prepaid card offerings; fraud protection and authentication solutions; electronic check acceptance services through TeleCheck; as well as Internet commerce and mobile payment solutions. The company's STAR Network offers PIN-secured debit acceptance at 2 million ATM and retail locations. For more information, visit www.firstdata.com.
About Austin Logistics Incorporated
Austin Logistics is a leading provider of analytic software and solutions that predict customer value and behavior to drive more profit from every customer interaction - delivering a proven return on investment in six months or less. The company's products and solutions enable its global client base to make proactive, profit-focused decisions that optimize actions in collections, risk/fraud, and customer loyalty applications. Since 1992, Austin Logistics has been trusted by many of the world's largest financial services companies. The company's products and solutions are also available to insurance and telecommunications operations worldwide. For more information, please visit www.austinlogistics.com.
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