A Truly Global Processing Platform that Adds Value across the payment product lifecycle.
What is FirstVision™?
FirstVision is a global procession solution that incorporates an extensive range of products and services to fully support the management and processing of credit cards--including bank, co-branded, private label and Sharia-compliant cards--as well as debit, commercial, prepaid, loyalty management, loan and card acquiring.
What led to the introduction of FirstVision?
Over several years, First Data recognized the market's growing demand for a truly global processing platform hat would add value across the payment product lifecycle. Using our VisionPLUS® platform (a platform already widely used by many of the world's leading card issuers) as a basis, we focused on developing a single processing solution that would deliver consistent functionality and technology across markets.
What type of customer is FirstVision designed for?
FirstVision has proven its capability in meeting the needs of financial institutions of all types and sizes, anywhere in the world from small to large banks and retailers, from single-product start-up companies to global brands. The functionality on the platform is unrivaled, having been developed over several years with experience gained in markets across the world. This functionality is consistent across our data centers in South America, Asia and Europe, so clients can benefit from platform enhancements regardless of where in the world the originate.
What new functionality will be delivered through the FirstVision™ technology program?
First Data is introducing new functionality and tools that will help our clients increase productivity and efficiency while reducing costs. Clients' customer service agents will be able to perform tasks more quickly and easily with our new user interface. This features the latest Web browser technology and is highly intuitive, to help clients reduce training costs and call handling times and freeing up more time for cross-selling activities. This new user interface was launched in one of our own customer services call centers this year, and we intend to launch it for a number of clients in 2010.
In the business intelligence and value management space, First Data's new feature-rich analytics suite will offer clients greater flexibility with advanced reporting, executive dashboarding, predictive analysis and modeling capabilities, to provide enhanced portfolio and customer insight.
With our single communication channel management solution that reaches out to all end users, clients can serve multiple products across multiple channels including, Web, Email, interactive voice responses (IVR) and SMS. We have also made it more efficient for new clients to start processing with First Data by introducing a number of on-boarding processes and tools.
Who makes up the global support team behind FirstVision™?
When you have clients all over the world, you need the global scale and local presence to support them. First Data has organized to deliver FirstVision through a single global line of business, with a single mission, strategy and deliver focus. We have drawn on expertise from inside and outside of First Data to develop a global community of more than 1,000 people who support FirstVision today.
By managing services in this way we can deliver the platform stability, quality support and product innovation that our clients are looking for. It's this global community that drives product innovation and enables us to implement projects quickly--be it platform conversions, new product launches or market expansion--to give our clients a competitive advantage.
How is FirstVision™ different from what other providers offer?
One of the key strengths of FirstVision is that it allows financial institutions to pursue a standard operation model, accelerating market and product expansion and helping them to consolidate costs. This means they can focus their attention on business development and customer relationships rather than dealing with compliance and the other issues associated with the complexity of legacy or in-house platforms.
Why is the industry moving in the direction of global integrated platforms like FirstVision?
Our customers are facing many challenges in this unprecedented time-increasing credit risk from customers, professional fraudsters continually identifying new ways of accessing customer data, rapidly changing regulatory environments, nervous consumers with lower confidence and loyalty in the financial system. As a result, card issuers need to be more nimble, flexible and fast to respond-faster than ever before.
FirstVision combines the power of an integrated platform with the value-added, real-time tools, helping our customers expand in a controlled way with tightly integrated sales channels so you can respond to all thses latest challenges in the marketplace.