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First Data Integrates Austin Logistics' Predictive Analytic
EarlyDetection System Into Its VisionPLUS System in China
(Wireless News Via Thomson Dialog NewsEdge)
First Data International, a provider of electronic commerce and payment
services, announced it successfully integrated Austin Logistics' new
predictive analytic EarlyDetection System into First Data
International's VisionPLUS card processing system in China.
VisionPLUS is a 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 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."
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))
Copyright 2007 Wireless News
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