i2c’s Agile Processing Platform Gives Financial Institutions and Card Issuers the Control to Bring Innovative Credit Products to Market
REDWOOD CITY, Calif. – August 4, 2016 – The market dynamics in the credit card payment processing space are undergoing a dramatic transformation. Card issuers and financial institutions know they need to stay competitive and quickly create and deliver better card products and features today’s social and mobile consumers expect. But because the underlying technology supporting it hasn’t changed in decades, the majority find themselves severely limited in terms of being able to quickly and cost-effectively build and execute an innovative product roadmap that builds loyalty. As a result, they roll out “me too” credit card products that fail to engage their customers.
Agile Processing: A Better Model for Credit Card Payment Processing
i2c’s Agile Processing solution is a next-generation payment processing model that helps credit issuers take control of their business and execute their product roadmap vision. It enables banks and credit card issuers to create, configure, and deploy innovative digital and mobile card programs consumers want quickly and cost effectively.
Challenges Credit Issuers Face
Inflexible legacy processing technology used by so many financial institutions was never designed to address today’s dynamic market needs. It has become the single most important obstacle to innovation for credit card payment processing companies.
Without the proper underlying technology, credit issuers have inadequate control to address key market challenges, including:
- New technology and business models
- Evolving consumer expectations and shifting demographics
- Strict regulations, fraud, and risk
- Limitations of legacy technology
- Total cost of ownership
Innovation Is No Longer Blocked by Legacy Processor Limitations
Card-issuers can now configure products based on business requirements and most importantly, customer expectations. The foundation of Agile Processing is cloud-based, which means that credit card payment processing companies can configure any business use case or market need to rapidly deploy any payment program – no coding required. Issuers can create, test, reconfigure and deploy products in real-time – requiring significantly fewer resources to bring new and innovative credit card services and products to market ahead of the competition.
In accordance with the highest security and compliance requirements, i2c Agile Processing supports card portfolios for several of the largest financial institutions and brands around the world. That means card issuers have the flexibility to get as creative and innovative as they like as market conditions and consumer preferences evolve.
About i2c Inc.
i2c is a global provider of highly-configurable banking and payment solutions. Using i2c's proprietary building block technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single, global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c's next-generation technology supports millions of users in more than 200 countries/ territories and across all time zones.
For more information, visit i2cinc.com and follow us at @i2cinc.