1. Leveraging Analytics to Maximize Updater Efficiency
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Leveraging Analytics to Maximize Updater Efficiency

2. Agenda
Background
Building audits and controls around the updater processes to ensure it is working as expected.
Leveraging the customer and processing data to drive customers into the updater process to drive efficiency.
Developing an analytic process around the updater response data.
This session will look at customer data, processing data and BIN analytics to identity gaps and opportunities to maximize card updater processes.

3. Background While using multiple processes will increase
The use of an updater product is essential to keep cards updated. Using multiple processes such as updater and Extractor improves your chances of obtaining an update. In reviewing the data we found patterns in banks, bins and card types that are more likely to provide updates via the extractor than the batch process.
While using multiple processes will increase
your success we found that it was not enough.
We found that updates were being missed leveraging
standard pre-bill cadences. In response, we developed
and implemented a process to target populations and
bring them into the process as needed.
The result was a significant uplift in updates, which in turn
continues to drive higher approvals.
Updater
Extractor
Custom
Process

4. Building Controls and Audits
It is critical to ensure that the implemented updater processes are working as expected. You can not set it and forget it or simply leverage reporting to ensure the process is working. There are risks at many points within the process that must be monitored. The risks can result in missed opportunities, which will lead to declines.
Develop an understanding of the end to end process flow to identify key control points in the process.
Audits and controls should be in place, at each step of the process, to ensure that all expected records are sent, a response received and updates applied.
Records
Sent
Received
Updated

5. Building Controls and Audits
3. Leverage all available vendor reporting and data sources to validate processing.
4. Build data stores of all data sources including all the requested updates and vendor responses for reconciliations and analysis.
VALIDATION
Vendor
Reports
Internal
Data Stores
Additional
Data

6. Leveraging Data
Ensure that you have access to all available reporting and data sources offered by the processer or card brand.
Table the request data being sent and all responses for each of the records received back. This allows you to build a data store to be used for process validation, reconciliations and analytics. The data can be used for multiple purposes including ;
Ensure that all expected records are sent into the process.
Validate against the billing systems to ensure that all updates were processed without error.
Leverage all the response data to cull information about the bin/bank for analytics and other downstream processes.

7. Leveraging Customer Data
Know your base in order to understand the behaviors of the customers and the cards on file.
Use the collections process to identify potential issues at a bin/bank level.
Use the updater data and response data and reporting to build trending to identify potential issues.
Bring all the data together to monitor the behaviors across the processes.
Cards on File
Decline
Collections
Updater

8. Leveraging Data Cards on File Analysis
Track and trend data at the BIN level to identify potential issues.
Changes at the bin level could suggest a potential change or issue prior to the trend being identified downstream. Watch the changes to see what bins are being updated and where they are going. We have been able to identify portfolio changes and other issues leveraging this data.
BIN
1/1/2019
2/1/2019
3/1/2019
4/1/2019
5/1/2019
6/1/2019
Year Change Counts % Total
Monthly Change Counts % Total
412345
131,843
105,334
85,063
69,234
54,920
46,795
(85,048)
-64.51%
(8,125)
-14.79%
513456
189,828
189,650
190,404
190,475
190,989
191,200
1,372
0.72%
211
0.11%

9. Leveraging Data Collections Analysis
Analyzing your collection data is another powerful tool. Track what card the customers are using when exiting collections. Are they adding new cards, or updating exiting cards on file?
This information accumulated on a BIN level often tells the story.
Example of migrating portfolio – customers exiting with different card, different BIN
Example of expiration date update

10. Updater Analytics
Track the updater process results to identify movement in the data that could indicate an upcoming issue - leverage the data and plan accordingly.
High Cancels
High Expiration Changes

11. Leveraging Data - Bring it all together
Put multiple indicators together to track BIN “Health”

12. Key Improvement Strategies
Don’t single thread your updater processes- leverage all available options and don’t set it and forget it.
Implement audits and controls to ensure the programs are working as expected.
Leverage the complete set of the updater response codes for customer, bin/bank analysis and possible downstream actions.
Build a process that allows you to identify targeted populations that should be brought into the updater process outside of the normal billing cadence.

13. Summary & Key Takeaways
Understand you billing systems and processes to identify actionable data that you can leverage for an updater analytic program - start small
Build your transactional data mart
Monitor your trends and know what is normal, in both the customer and payment transactional data
Cross reference your data to uncover actionable insights

14. Thank you Don’t forget to submit your session evaluation!
Ken Hagemann , SiriusXM Satellite Radio, Sr. Director
Elena Istomin, SiriusXM Satellite Radio, Sr. Manager