Ravi Shah, senior vice president, architecture and strategy at Vantiv said it best, “(Manually), it can take up to nine days to get a final decision on the application. Having applied the Decision Management Suite technology in an integrated fashion, we are able to do that in minutes.”
Every year, Vantiv processes more than 17 billion payment transactions for nearly a half-million retail merchants in the United States. Because there is a contingent risk involved in taking on a new merchant, the company needs to ensure that it minimizes that risk and makes appropriate pricing offers. Vantiv has implemented FICO® Decision Management Suite to streamline its merchant origination process. As a result, Vantiv has cut merchant onboarding from days to minutes, which helps facilitate the company’s rapid growth and opens up new possibilities for partnerships with independent sales organizations and merchant banks.
Check out Ravi Shah’s video to hear his story.