Increase profitability through improved management of rising card network fees and expenses with Network Fee Advisor from Fiserv.
Card network fees and expenses are one of the largest costs associated with your card program, yet most financial institutions are unable to justify the process of reconciling and auditing the complex invoices they receive each month. Network fees and expenses can increase as your card network grows, limiting profitability. As a result, you may not have a true understanding of how card network fees impact your business.
Network Fee Advisor from Fiserv improves your ability to analyze, audit and manage card network invoices by helping you view the relationships between card fees and key performance indicators (KPIs). The desktop solution, whether installed onsite or hosted by Fiserv, is customized to bank-specific contract terms and fees to pinpoint opportunities to reduce costs, improve efficiency and increase customer satisfaction.
Through Network Fee Advisor, Fiserv is able to help financial institutions reduce card program fees and taxes by 5-20 percent, while improving their ability to manage operational costs going forward with:
- Improved auditing and control of card scheme invoices
- Reduced monthly payments through the identification of operational inefficiencies
- Ability to allocate fee and tax expenses to business and product lines
- More accurate product pricing through the identification of fees by product or transaction type
- Identification of costs that are outside of anticipated or approved ranges
- Geographic consistency through the ability to audit costs across different markets
- Improved efficiencies through the review and tracking of contracts to ensure all applicable discounts and rebates are obtained
- Quick identification of opportunities through is pre-configured, easy-to-implement solution
Customization features of Network Fee Advisor include:
- Creation of a customized cost management dashboard
- User-defined reports tailored to current contract terms, fees and taxes
- Predefined or customized report generation
- Fee validation and exception reporting, with alerts
- "What if" scenario simulators