"The process the Redbridge team deployed has enabled us to conduct comprehensive analyses, achieve better prices, ensure we provide the highest-quality services and map out ways to improve the acceptance of our payment cards."
Assignment overview
- Project: optimization of payment card and bank services
- Scope: France
Objectives
- To compare the Group’s payment card architecture with best market practices
- To make recommendations about how to improve the organization of payments, the customer journey, service provider management and security
- To optimize payment card and cash management fees and to improve Dynamic Currency Conversion (DCC) revenues
- To harmonize the services, procedures, billing methods and reporting used and provided by the various banks
Results
- To improve the Group’s vision in terms of best market practices in card transactions and define a roadmap for the years ahead
- >20% savings onve bank services
- >65% in DCC renue
- Simplified day-to-day management and harmonized fees on bank services
Methodology
- Data collection through meetings, phone calls, file integrations and questionnaires covering
- Analysis and benchmarking of price conditions and qualitative and organizational aspects related to the Group
- Management of a two-round formalized consultation with banking institutions
- Support throughout the process, right through to the negotiation of contracts with the chosen banks and service providers
Redbridge’s added value
- A specific audit of both the organization of payment cards and the volumes and bank charges involved
- A rigorous, tailor-made process to obtain results quickly
- Good knowledge of market pricing and banks’ capacities
- A respectful approach to partners that strengthens the quality of banking relationships
- A comprehensive approach to the allocation of cash flows, particularly with regard to existing funding, including from a medium-term perspective