New Credit Card Business Launch: Bank of Ireland Joint Venture with
major UK Distribution Network
The joint venture company between Bank of Ireland and a major UK Retail Distribution Network, placed a tender for the launch, management and operations of a Credit Card which Bank of Ireland Retail Financial Services Ireland (RFSI) were awarded against keen competition from the UK Credit Card market leaders. Bank of Ireland sought to exploit their successful credit card expertise and management to expand the Credit Card business and customer base, utilising the sizable distribution network and existing strong brand.
The Tender Response team was in operation for two months only and consisted of experts, covering all discipline from the Cards Business. After RFSI were awarded exclusive contract negotiations, a multi-disciplined programme team was established to manage the conclusion of the contract, delivery of a product proposition, regulatory approval and the set-up of a full service Operations across two jurisdictions to manage customers via the phone, web and branch network and to liaise with the retail partner. The team consisted of Bank and external staff with expertise in credit card products, credit risk, operational management, contact centre, finance, process design, legal, compliance, IT, supplier management and project management.
Bank of Ireland selected a Pinnacle Client Manager to lead the Programme both for the Tender Response and the launch of the new business. She was supported by one other Pinnacle Project Manager, who held a key project role during the programme.
Major elements of the programme included:
The following results were achieved: