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TEAM # 175
Overview
We p ro p o s e a f e a t u re r i c h c a r d p a y m e n t m e c h a n i s m w h e re a c o n v e n t i o n a l
i s s u a n c e o f a p h y s i c a l d e b i t o r c re d i t c a rd w o u l d b e c o m e a t h i n g o f t h e
past.
A c re d i t a n d d e b i t c a r d w o u l d b e m a d e a v a i l a b l e i n a d i g i t a l f o r m w h i c h
c a n b e a c c e s s e d f ro m a u s e r s m o b i l e d e v i c e s u c h a s s m a r t p h o n e o r
t a b l e t t h a t s u p p o r t s b i o m e t r i c o r P I N a u t h e n t i c a t i o n , a n d i n t h e p ro c e s s
t h e i s s u i n g b a n k s t o p s d e l i v e r i n g a p h y s i c a l p l a s t i c c a rd t o t h e i r e n d users.
T h e h u g e a m o u n t s p e n t o n i s s u i n g a p h y s i c a l c a rd c a n b e d r a s t i c a l l y
re d u c e d b y i s s u i n g a d i g i t a l c a r d a n d s t o re i t i n s m a r t p h o n e o f a
c o n s u m e r.
Ideathon 2016: Digi Pay
Business intelligence
(Behavioral study)
Integration of
existing multiple
platforms
Leveraging New
Channels
Global delivery
business model
with a right
mixture of
standardization
Ideathon 2016: Digi Pay
and customization
Verify enduser
credentials
and credit
history
At least 10
days
required for
verification
and issuing
a card.
Issue a plastic
card to the
customer which
incurs a cost.
Initialize
the card via
an ATM
kiosk
Card has
been
activated
and is ready
to use
Card validity
expired /card
stolen. For
reissuance
follow a
tedious
process
Processing 27
Cents
Shipping to
Processor 3
Cents
EMV Chip 1
Dollar
Total $2.11
Plastics/inks 17
Cents
Series 2
700
600
563 MN
576MN
526 MN
545 MN
500
400
300
200
54.1 MN
100
0
2013
2014 MC
2013
2014 VISA
2013
57.3 MN
2014 AMEX
Series 2
350
304 MN
300
285 MN
250
178 MN
200
191 MN
150
100
53.1 MN
54.9 MN
50
0
2013
2014 VISA
2013
2014 MC
2013
2014 AMEX
Customer
Value
Gain Creators
Products
& Services
A mobile
mobile application
application for
for
A
digital debit
debit and
and credit
credit
aa digital
card
card
that is
is easy
easy to
to maintain
maintain
that
and
use.
Bank
connects
and use. Bank connects
more closely
closely to
to aa
more
customer to
to convert
convert
customer
potential customers
customers to
to
potential
real customers
customers
real
Minimum cost
cost
Minimum
incurred for
for card
card
incurred
issuance.
issuance.
Prospective
Prospective
Customers for
for
Customers
particular feature
feature
particular
cards can
can be
be
cards
identified and
and
identified
approached right
right
approached
from the
the app
app
from
Pain Relievers
Minimum turn
turn
Minimum
around time
time to
to issue
issue
around
or re-issue
re-issue aa card
card to
to
or
potential customer.
customer.
aa potential
GAINS
The bank
bank would
would no
no
The
longer need
need to
to
longer
issue plastic
plastic cards
cards
issue
of such
such high
high
of
volume and
and can
can
volume
reduce the
the cost
cost of
of
reduce
logistics.
logistics.
Pains
The issuing
issuing
The
bank has
has to
to pay
pay
bank
hefty sum
sum in
in
hefty
order to
to provide
provide
order
plastic card
card to
to
plastic
its customers
customers
its
Customer Jobs
1. Issue
Issue card
card to
to
1.
consumer
consumer
2. Reissue
Reissue aa card
card
2.
it is
is
ifif it
lost/expired.
lost/expired.
3. Bear
Bear logistics
logistics
3.
cost for
for card
card
cost
delivery
delivery
Key partnerships
Issuing Banks
Sales team
Software maintenance team
Cost Structure
QR Scanner: $40 per set
Software and hosting Cost: $8000
Value
Proposition
Issuing
cost reduction
Customer
Customer
Relationships Segments
Greater customer
conversion
Easy to market preapproved cards
Less turn around time
greater satisfaction
Sales team
Developer and
maintenance
team
Key resources
Issuer Banks
Channels
QR scanner
Cognizant Sales team
Application for all mobile devices
Existing clients
Back end servers and security protocols
Cognizant Whitepaper
Revenue Stream
Software Development maintenance
Proprietary rights if can be attained
Customer Persona
Name : Issuer Bank
Goals :