Kiwibank wanted to launch a first to market reloadable prepaid Visa card. With a product likely to attract a younger segment, the credit challenged or the risk adverse, it was vital that applications could be received through mail, via Post Shops and the internet.
“It was recognised Datamail’s core competencies could be leveraged to provide a superior customer experience and that it aligned well to our Credit Card processing solution that Datamail also maintains”Explains Michael Bullock Manager Payment Services. Facing tight deadlines, budget and resource restraints Kiwibank needed to look at a different way of solving this problem.
By outsourcing the processing of the Loaded prepaid Visa card applications to Datamail Kiwibank Payment Services were able to meet their project deadline and bring ‘Loaded’ to the market quickly and efficiently.“Applications exceeded original estimates climbing quickly to over 1800 applications within a short space of time” says Mr Bullock.“Datamail’s scalability meant we could deal with this unexpected increase in volume” he explains.
Kiwibank pay per application and were able to avoid capital investment in a solution and having to go through the time consuming and costly process of adding resource.
Kiwibank needed to be able to quickly verify applicants in the branch that had submitted online applications. To meet the unique demands of ‘Loaded,’ an application was developed by Datamail to ensure online applicants could be ID verified by customer services representatives at the retail branches. This greatly assisted in speeding up the process of verification and enhanced Kiwibank’s customer service towards applicants.
Converga and Kiwibank Payment Services are continuing to work together to explore other business processes that can benefit from the Application Processing model and deliver a competitive edge to future product launches.
Kiwibank provides payment services on behalf of more than 70 organisations throughout New Zealand and Australia. Each year they manage more than 20 million transactions and handle $2.75 billion in payments.
Kiwibank are a market leader in the pre-paid card market with the successful launches of “Pressie” card and now “Loaded”.
Kiwibank is a wholly owned subsidiary of New Zealand Post with a head office is based right in the heart of Wellington. Kiwibank have over 17 Business Banking centres in locations from Whangarei to Invercargill.