SEAMLESS MIGRATION TO NEW PROCESSING PLATFORM
Learn how Vervent executed a seamless migration of 165K+ credit card accounts, boosting efficiency, control, and portfolio savings by $1.5M annually.
Overview
Vervent completed a major credit card portfolio conversion to a new processing platform – in under 180 days.
Vervent continually pushes the envelope to achieve growth for its clients and products. This was demonstrated as Vervent identified significant efficiency and product opportunities in converting processor platforms. While the conversion required significant resources and financial commitments, the long-term opportunities far exceeded the cost.
180 Days
To Complete
Conversion
165k+ Accounts
SUCCESSFULLY
MIGRATED
$1.5 Million
ANNUAL PORTFOLIO
SAVINGS
Migration process & Goals
Conversion Population
The population included a combination of customers at different stages of the credit card lifecycle — from applications in process and active accounts in good standing to delinquent, closed, or charged-off accounts.
Servicing Considerations
Vervent proactively communicated with customers several months in advance and throughout the migration process resulting in a seamless transition. Unnecessary account conversions were avoided, and self-service platforms were replicated to maintain continuity and reduce attrition.
Migration Timeline
The migration began with shifting application processing 90 days ahead of the full account conversion. Non-converted accounts were identified and purged 30 days prior. Practice conversions were conducted at 90, 60, and 30 days before the live migration to ensure readiness.
Long-Term Opportunities
Quality Improvements
Vervent improved quality by standardizing card programs, enhancing testing through a consistent staging environment, and upgrading applications across sites, portals, and mobile apps.
Cost Reduction
Optimized tier-based pricing and reduced processor expenses will save the portfolio $1.5 million annually, improve the bottom line, and support scalable growth.
Increased Program Control
Vervent increased program control by reducing third-party reliance, standardizing underwriting practices, and enhancing monitoring and reporting for greater marketing effectiveness.
