MK Decision's Credit Card Origination System (CCOS) provides a turnkey credit card issuance solution for financial institutions. We are live in market with Axiom Bank. CCOS integrates with Credit Bureaus and Core Processors, features easy to use Marketing Pages and Digital Application WorkFlows for customers, and delivers Automated Credit Decisioning, fraud prevention, and secure compliance notices. In addition, MK's Banker Dashboard allows Bankers to process pending applications, view reports, analyze data, and adjust underwriting guidelines all in real-time.
Problem: Credit Card Issuance in 2018
1. Time wasted is an important concern when customers apply for credit cards online. - "Only 23% of credit cards applications occur online." ~ Bain
2. Manual credit decisions leave customers feeling uncertain and disconnected.
3. Credit card fraud is common and costs banks money.
4. No easy way exists for Banks to digitally process credit card applications, end-to-end.
- "Only 13% of credit card applications handled digitally end-to-end." ~ Bain
Solution: MK's Credit Card Origination System (CCOS)
1. Save Time: with intuitive customer experience
- "Digitizing the customer loan experience can increase conversion rates by over 36%." ~ Avoka
2. Automate Decisions: for instant access to credit
3. Prevent Fraud: with real-time identity verification
4. Increase ROI: lower overhead & increase interest margins
Most Financial Institutions lack the resources (team, vision, expertise) to build and support modern online lending solutions.