Verinite signs up with consumer finance company in Abu Dhabi to support credit and prepaid cards migration onto HPS PowerCARD
Verinite signs its 2nd customer in United Arab Emirates to support credit and prepaid card migration. Client is Public Joint Stock Company incorporated in the Emirate of Abu Dhabi, United Arab Emirates and is well recognized as a niche player that offers consumer and commercial finance, as well as proprietary investing.
Our client has outsourced processing of its credit and prepaid cards to a third party payment processing company in UAE. The current portfolio includes both conventional and Islamic products. Client made a decision to insource the cards processing to leverage the latest technology CMS platform and bring greater control to deliver above industry average growth for cards business. This meant migration from VisionPLUS on to its chosen platform HPS PowerCARD.
As client will be insourcing the cards processing, they were looking for a partner who could handhold them through a complex migration process, test the new system (Conventional & Islamic both), manage scheme certification and define/refine operations business processes. Verinite was chosen as the trusted partner among the strong group of vendors to support this transformation program. Our demonstrated experience of 6 cards migration programs (in last 24 months), deep PowerCARD expertise, proven expertise in handling conventional and Islamic card products and strong credibility as card domain player proved to be the clincher.
Verinite will be responsible for system configuration, migration strategy definition & testing, end-to-end functional testing, interfaces testing, scheme certification with MasterCard and load testing for the credit card and prepaid cards portfolio. This is another big win as it strengthens our positioning as preferred partner for cards migration and implementation programs.
Team Verinite hopes to build on this win to serve more consumer finance companies and banks in Middle East as they embark on cards technology transformation initiatives.