Customer Success Story
Unleashing Innovation And Growth: The Epic Journey Of A Leading Credit Card Issuer And TSI Partnership
The Challenge
As the Client and TSI embarked on their journey together, they faced several challenges:
- Scalability: The initial team of 25 FTE agents was insufficient to meet the growing demand for credit card products, let alone the expanded scope of financial products.
- Diversification: Expanding beyond basic credit card products required a strategic shift, as the Client needed to diversify its product portfolio while ensuring a seamless customer experience.
- Market Penetration: The Client sought innovative ways to penetrate new markets, including deploying facilities in Canada to serve its expanding customer base.
- Affinity Programs: Developing and managing multiple unique affinity card programs required a specialized approach to customer acquisition and retention.
- Business Card Acquisition: Establishing a leading position in Business Card Acquisition Services required specific expertise and resources.
The Solution
To address these multifaceted challenges, the Client and TSI implemented a comprehensive solution:
- Scaling Workforce: The partnership saw a substantial increase in the workforce, with the relationship growing to encompass 250 FTE agents, enabling the Client to serve a broader customer base.
- Product Diversification: Over subsequent years, the partnership expanded its scope to include outbound acquisition of various financial products, including credit card acquisition, home equity prequalification, affinity credit card sales, balance transfer acquisition, and welcome calls.
- Geographic Expansion: The Client became the first supplier to deploy facilities in Canada, allowing it to extend its reach and better serve Canadian customers.
- Affinity Card Programs: The Client and TSI became the sole service provider for 10 unique affinity card programs over the years 2002-04, catering to diverse customer segments.
- Business Card Acquisition: The partnership established itself as the leading provider of Business Card Acquisition Services for the Client, driving growth in this strategic area.
- Experimentation: Various test programs were deployed, enabling the Client to experiment with different target markets and fine-tune its sales and marketing strategies.
The Results
The partnership between the Client and TSI yielded remarkable results:
- Market Expansion: With 250 FTE agents and an expanded product portfolio, the Client significantly expanded its market presence, capturing a larger share of the financial services sector.
- Geographic Reach: The deployment of facilities in Canada solidified the Client’s international presence, catering to the Canadian market’s unique needs.
- Affinity Programs Success: Becoming the sole provider for 10 unique affinity card programs underscored the partnership’s ability to tailor its offerings to specific customer segments effectively.
- Business Card Dominance: The Client achieved a leading position in Business Card Acquisition Services, further enhancing its revenue streams.
- Innovation: The ability to deploy test programs allowed the Client to innovate and adapt swiftly in response to changing market dynamics.
In conclusion, the strategic partnership between the leading Credit Card Issuer and TSI not only enabled the Client to address its initial challenges but also positioned it as a dynamic and adaptable player in the financial services industry. Through workforce expansion, product diversification, geographic expansion, and a commitment to innovation, this partnership exemplifies the power of collaboration in achieving sustained growth and market leadership.
Customer Experience/Care Management
Inbound & Outbound Voice
CX & Care Programs
Back-Office Functions
Performance Analytics
Flexible Global Staffing
Business Process Outsourcing
Data Input
Document Processing
Verfication & Validation
Exception Processing
QA Monitoring & Reporting
Business Analytics & Modeling
First Party ARM
1st Party Collections
Pre-Charge Off Program Support
Inbound & Outbound
Early Stage / Care Based
Brand Protection
IT Adaptability / Flexibility
third Party Debt Collection
Post Charge-Off
Primary & Secondary
Late-Stage Recovery
Innovative Technology & Approach
Propensity to Pay Analytics
