A European leader in financial services for over 150 years had a network of cash management desks across 8 European countries (Austria, Belgium, Germany, Italy, Netherlands, Spain, Switzerland and UK) servicing the banking needs of local clients with a focus on cash management.
The financial services group identified gaps in its product offering in those markets, notably commercial card products and merchant acquiring services and sought EDC’s assistance to identify issuing and acquiring partners to enhance its product offering.
The group had two clear objectives, defend its current market share ensuring retention of its existing cash management business clients and recruit new clients with a full range of services by filling product gaps.
How EDC helped
EDC worked closely with the client to define and fine tune business requirements and conducted a series of internal workshops to define and evaluate issuing and acquiring partnership models. We also engaged with potential partners to describe and validate high-level requirements and partnership models.
EDC leveraged its significant experience in RFP support and management to assist the client in identifying a list of potential partners and launching an RFP process to evaluate proposals / engagement models and select issuing and acquiring partners who can most effectively serve our client’s customers whilst optimising cost. We also supported our client throughout contract negotiations with the new issuing and acquiring partners and in terms of planning / road mapping and programme managing implementation.