Asian Finance Company Adopts CSC CAMS II Software to Meet Unique Lending Requirements
| A leading provider of consumer credit and financing services in Asia found itself facing new and daunting challenges, including deregulation of the financial services industry, new lending technologies and a diversifying client base with more sophisticated demands. To meet those challenges, the company worked with CSC to explore ways to improve their financial systems. |  |
In October 2005, the company launched a customized version of CAMS IITM Card & Merchant System. The system has enabled the company to introduce more flexible product offerings, better serve consumers and merchants, and improve data management.
Understanding Client Needs
CSC and the company began by defining the company's business requirements. Cards management for Japan differs from U.S. and European implementation. In Japan, when a customer makes a purchase with a debit or credit card, they select how many months over which to spread the payments. The system also had to address numerous options for the payment terms, which affected how finance charges and payment amounts were calculated. The finance company also often shared risk with other financial institutions, so CAMS II would need to manage those relationships as well.
At the same time, the company's client base was shifting away from smaller retailers to larger mega-store chains, which would be more demanding and expect better customer service and more flexibility in pricing, funds settlement and data processing. The company was also adding customers from new channels, such as automobile dealers and agriculture and livestock industries.
Successful Cutover
To address these challenges, the Asian company worked closely with CSC staff in Tokyo, Japan; Dallas, Texas; Melbourne, Australia; and Noida, India to customize, develop and implement a customized CAMS II system. Full conversion from the legacy cards management system to CAMS II was completed October 2005. The conversion included more than half a million loans, 2 million cards, almost 80,000 merchants and nearly 6 million credit lines.
With CAMS II, the company is able to respond to the market much more quickly and introduce new products, such as promotional pricing for a certain period of time, which the previous system was unable to do. Furthermore, with its extensible architecture CAMS II can support the company's future strategic initiatives as they evolve to meet market needs.