Case Studies

Polymath Consulting has delivered over 70 projects, for over 40 clients since it started. The following are just a few case studies on the projects we have completed. Due to the confidential nature of a lot of our work the client name in many cases cannot be stated. If you would like more detailed information on particular areas of work please do not hesitate to contact us.

All Case Studies are listed below or can be filtered by keyword or geographic area of the work

Latin American BIN Sponsor

Background

The client was looking to understand the different regulatory frameworks in Europe and what would be the best market to obtain an EML in for its European Expansion.

Polymath Consulting Project Delivery

Polymath carried out a detailed piece of desk research and made recommendations on what their market entry strategy for BIN sponsorship should be. This included detailed regulatory analysis along with pros and cons of operations in Germany, Malta and the UK. As part of the analysis we also considered different corporate structures as related to both European and other entities already owned that would be most cost effective in relation to scheme collateral. A full analysis of Visa v MasterCard membership costs was also carried out.

European Door Step Lender

Background

The client wanted to launch a prepaid card to replace cash in their door step lending business.

Polymath Consulting Project Delivery

Working with another consultancy firm Polymath carried out a detailed workshop for the client so they could understand the Prepaid Card value chain and the options for delivery. We then working with the client developed a number of filter criteria and analysis to take the 'long list' of potential partners down to a short list. We provided input to the RFI and RFP process for the selection of the partner.

Association of Labour Providers

Background

The ALP wished to partner with a number of prepaid companies as part of their partnership programme.

Polymath Consulting Project Delivery

Polymath Consulting carried out analysis of the organisation and card programmes proposed for the partnership. All card programmes needed to comply with government requirements for the provision of prepaid cards to Labourers through 'Gang masters'. Polymath submitted a report to the ALP on each potential applicant.

European Processor and BIN Sponsor/Programme Manager

Background

The client operated in a highly regulated European prepaid market and was looking to understand what would be required from an operational, cost and compliance perspective in order to obtain an EML in a new market.

Polymath Consulting Project Delivery

Polymath carried out a site visit with a number of key meetings to assess current capabilities, structures and resources. We outlined what would be required in order to obtain and run an EML business in the preferred market along with timings and costs to both obtain the EML and run the business.

Global Outsource Software Group

Background

The company had a major status presentation to their largest client and wanted though leadership as part of this update.

Polymath Consulting Project Delivery

We attended with the client the status meeting and presented a one hour 'thought provoking' presentation on the future of payments in relation to their business.

New Company Middle East

Background

A new company in the Middle East was looking to launch prepaid cards.

Polymath Consulting Project Delivery

We carried out a detailed market assessment along with delivering a detailed report with recommendations on what products should be launched and the market potential for these products.

Private Equity Frim

Background

The Private Equity firm was looking to support the management buyout of this regulated financial services provider.

Polymath Consulting Project Delivery

We carried out a detailed assessment of the company and its markets and marketing so that the PE firm had a better understanding of what business the company did, and how it worked.

Middle East Shopping Mall Operator

Background

One of the two largest Shopping Mall Operators in the Middle East wanted to launch prepaid gift cards in their malls.

Polymath Consulting Project Delivery

Working with the management of the Mall we scoped out the regulatory environment and recommended a technical solution that would meet their needs. We then identified potential suppliers and ran a full RFP. As part of the RFP process we also actively put different parts of the supply chain together to ensure the best end bid for the client.

MEA Programme Manager

Background

MEA programme manager was launching a new prepaid card in Africa and wanted support on card design and collateral.

Polymath Consulting Project Delivery

Polymath developed the creative briefs with the cleint and then briefed one of its team fo designers. They created a whole look and feel, website, and card designs for the client. Polymath's knowelge of card design and payments enabled an effective look and feel to be created that had real cut through but which still conveyed the financial nature of the product.

African Bank

Background

Client wanted to take the opportunity of moving to EMV cards to redesign their complete card portfolio

Polymath Consulting Project Delivery

Polymath working workign with its team of designers created new and stand out card designs. In addition usign our deep knowledge of card design we created a 'brand poperty' that then featured across all cards, debit and credit, standard, gold and platinium creatign a truyly 'family look' to the portfolio.

UK POS Finance Group

Background

The UK POS Finance Group was experiencing high levels of charge backs.

Polymath Consulting Project Delivery

Polymath spent time with the team undestanding the reasons for the high levels of charge backs and helping them create a solution that met both their business needs and also reduced their charge backs. We also assisted them in re-structuring some of their acquring relationships.

African Prepaid Processor

Background

Client wished to identify the right partners to work with in relation to mobile enablement across Africa.

Polymath Consulting Project Delivery

Polymath ran a detailed RFI to nearly 20 providers, in addtion we added data from our own unique knowledge base and industry understanding. This enable an effective analysis of the options available and the rusult of a specific partner beign quickly identified to handle the mobile enablement for this processor.

Global Card Producer

Background

The Client purchased the Prepaid Report and then wanted a bespoke workshop to address specific questions for their senior management as they sought to better understand the Prepaid Value chain and their options within it.

Polymath Consulting Project Delivery

Polymath ran a workshop with senior management covering the prepaid value chain, profit analysisand options for taking the business forward.

Point of Sale Finance Group

Background

A start up company needed to find both a virtual prepaid card supplier and loan provider for their online point-of-sale solution.

Polymath Consulting Project Delivery

Polymath after analysis of the requirments was quickly able to identify a partner that could supply both the virtual prepaid card solution and loan facility to enable a proof of concept launch.

Global Software Group

Background

The Client wished to demonstrate their committment to their global brand client in this quarterly review by presenting thought leadership and provocative thinking.

Polymath Consulting Project Delivery

Polymath were commission to write and create a presentation about the futrue of Mobile Money/Payments and highlight some key areas where Polymath's client and the global brand could work together.

African Bank

Background

A new African Bank was sorting out its contractual relationships with its processor and requested Polymath Review the contract.

Polymath Consulting Project Delivery

Polymath in the process of reviewing the contract identified a number of broader strategic issues to the new bank on how things were beign structured. Polymath prepared a detailed analysis clearly identifying options and implications for each route forward.

European Programme Manager

Background

A European Brand has been working with a programme manager for some time. They decided they wished to have more control and become their own Programme Manager.

Polymath Consulting Project Delivery

Polymath ran a workshop with the CEO and other senior members of management to take them through the options, including key incomes and costs as well as creating thought provoking options for them as to how to take things forward. Then usign the Polymath Filter process a short list from the long list of potential partners was establish for BIN Sponsorship and Processing. An RFP document was created and RFP process run, resulting in a succesful partners being appointed to take things forward with the brand as a PM. Polymath also worked with the brand so they had a clear understanding of the role of a PM as well as review their partner contracts.

Global Health Insurance Group

Background

Client wished to better understand how it could use prepaid and credit cards to create added value to its customers.

Polymath Consulting Project Delivery

Polymath ran a workshop with the CEO and other senior members of management to take them through the options, including key incomes and costs as well as creating thought provoking options for them as to how to take things forward.

Top Ten UK Retail Group

Background

Client wanted a strategic review of their closed loop gift card business

Polymath Consulting Project Delivery

Working with a partner consultancy we delivered a detailed analysis cover all aspects including: current processes and systems, staffing structure, business analysis, market analysis, market forecasts/trends and recommendations on how the business should be taken forward.

European Processor/Programme Manager

Background

The client was looking for a detailed anlaysis of the closed loop prepaid card market and a review of all the main players at different stages of the value chain in open loop

Polymath Consulting Project Delivery

Polymath delivered a detailed analysis of the closed loop prepaid card market, including consumer insight research, market forecasts, trends and analysis.

For open loop we analysed over 20 companies in the value chain providing a detailed understanding of their strategies and capabilities along with analysis of records available from government records (i.e. companies house type organisations).

Global Ewallet Company

Background

The client wanted to put in place a real time fraud and risk management solution.

Polymath Consulting Project Delivery

Polymath carried out a full RFP for a real time fraud and risk management solution. We managed all stages from vendor identification, RFP writing and final vendor selection.

Global Online Brand

Background

The client was signing up to work with a UK Programme Manager.

Polymath Consulting Project Delivery

Polymath carried out a detailed commercial contract review, resulting in a more robust contract for the brand.

Global Technology and Programme Manager

Background

Looking to create propositions to target new vertical markets

Polymath Consulting Project Delivery

Working with the product team we developed a number of new propositions that were then successfully launched into the market.

Global Technology and Programme Manager

Background

The company was putting in place a new processor.

Polymath Consulting Project Delivery

Polymath carried out a commercial review of the contract. The result of this was stronger processor contract.

Global Ewallet Company

Background

The company was looking to enter the Indian Market

Polymath Consulting Project Delivery

Polymath Consulting carried a review of the market, analysed potential partners and introduced them to a number of banks and wallet providers.

New European BIN Sponsor

Background

A new European BIN Sponsor starting in Eastern Europe was putting in place its first processor agreement.

Polymath Consulting Project Delivery

Polymath Consulting carried out a full commercial contract review. In addition Polymath carried out a full review of the Compliance policies being put in place. The result was stronger compliance and commercial contract with the processor.

Global Ewallet Company

Background

The company had a global ewallet with a prepaid card attached to it. They were putting in place a new processing solution for the card.

Polymath Consulting Project Delivery

Polymath carried out a detailed commercial review of the new contract with the prepaid processor. This resulted in a number of significant changes to the contract.

UK Closed Loop Gift Card Issuer/Processor

Background
Supporting the company in responding to an RFP that would move it out of pure closed loop into restricted or even open loop cards.

Polymath Consulting Project Delivery
By pulling together a number of our partner practitioners we were able to offer this client a fast track process to support the RFP response. This covered areas such as ATM access, details on restricted and full open loop card options as well as product innovations they could include as part of the RFP response.

European Bin Sponsor

Background
As they were soon to sign their first processor contract they required support on the commercial contract and compliance.

Polymath Consulting Project Delivery
Through a short intensive project we carried out a detailed review of their proposed processor contract from a 'commercial basis'. We identified a number of additional areas that the client needed to consider including in the contract. In addition we reviewed their compliance manual that would be shared with the processor to ensure all key aspects were included.

European Acquirer

Background
Understand and quantify the risk for high risk e-commerce merchants, put in place an on-boarding and monitoring process to underpin the quantified risk.

Polymath Consulting Project Delivery
Worked with the Acquirer to extend existing on-boarding and monitoring processes into a robust and targeted structure to support working with high risk e-commerce merchants. Put together a complete Merchant Code based risk assessment process enabling an equation to distil the financial risk into a quantifiable deposit and rolling reserve set of figures.

Scheme

Background
Understand Prepaid Card reload behaviours in consumers across seven European Markets

Polymath Consulting Project Delivery
Working with both our own recruited panel interviews and the Payments Scheme's partners in each market we carried out in-depth quantitative research on Prepaid Card reload behaviours in Germany, Turkey, Spain, UK, Ireland, Italy and Poland. Through over 3,000 interviews a strong understanding of consumes attitudes towards, and behaviours around the reloading of General Purpose prepaid cards was obtained.

Retail Voucher

Background
This closed loop voucher suplier that enable people to buy goods and services online wished to investigate the potential opportunity and challenges in entering the US market.

Polymath Consulting Project Deliver
Polymath worked with this voucher supplier to understand the market, identify potential partners, introduce them to partners, understand the regulatory structure of the market and what partners would be required to launch. Carried out a full competitive analysis of the market along with understanding competitive pricing.

UK EML Holder and Scheme SEPA Member

Background

The client wished to understand what would be required from an operational, risk, compliance and ultimately business cost basis to move into BIN Sponsorship.

Polymath Consulting Project Delivery

Carried out a detailed analysis including a gap analysis based on where the business was today and what would be required for BIN sponsorship. Outlined a number of different options in terms of strategy and advised what operational and business costs would be involvement to deliver on the strategy. Polymath outlined all areas of risk and compliance and over requirements and obligations in relation to them.

European Acquiring Bank

Background

The client wished review their risk and merchant on-board processes and policies

Polymath Consulting Project Delivery

Carried out a full review of risk issues vis a vis their acquiring as well as a full review of their on-boarding procedures, approach to risk and how compliance is managed both initially and as part of BAU.

Global Mobile Wallet/Enablement provider

Background

The client wished to understand how its product could be positioned for the prepaid market and what the correct route to market was.

Polymath Consulting Project Delivery

Polymath assisted in defining exactly what the product proposition was and how it was relevant to prepaid providers. We then identified the best route to market and carried out a number of introductions.

VC Company

Background

The client was looking to potentially make an investment in a European BIN Sponsor.

Polymath Consulting Project Delivery

Polymath was engaged to assist the client in understanding the economics of being a BIN sponsor, to understand the role of BIN Sponsors within the overall value chain as well as the impact new EMD2 regulations would have.

US Publishing Group

Background

The group wished to leverage its strong relationships in the SME market and further drive its advertising revenues.

Polymath Consulting Project Delivery

Polymath, working with it local US partners, developed a detailed strategy and loyalty solution involving prepaid payment cards. Polymath developed a detailed business case and board presentation for approval.

European Programme Manager

Background

Looking to expand their business activity into the Middle East

Polymath Consulting Project Delivery

Polymath has been working in the Middle East for the last five years and has strong relationships in the region. We were able to introduce the client to both the schemes and key banks that were interested in the BIN Sponsorship.

Leading African Mobile Handset Manufacturer

Background

The client wanted to expand their relationship with their customer base beyond the handset and into financial services.

Polymath Consulting Project Delivery

After designing and delivering an initial short workshop we worked with the client to agree a set of filter criteria. This enabled us to pre-select a range of potential bank partners. Polymath then developed a detailed product specification and RFP document and managed the process through to selection of the banking partner. We also supported the development of the overall business case

Top Three European National Retail and Card Issuing Bank

Background

The bank was keen to understand globally what was happening in P2P payments and P2P for remittances as well as using the international learnings to develop their own proposition.

Polymath Consulting Project Delivery

Using our research team we carried out a detailed global analysis of P2P and P2P Remittance providers. We identified all major players, their propositions and strategy. Using this as a base a detailed market analysis was carried out as well as engaging with all key schemes and industry stakeholders in relation to industry plans. The result was a clearly defined product proposition for the bank with identified key value adds to be built into the overall platform solution.

Global Retail Brand

Background

Post a product development workshop the client was looking to take forward their prepaid requirements to launch.

Polymath Consulting Project Delivery

Polymath developed a set of criteria with the client and then carried out a desk based RFI process using our unique database of prepaid card processors and programme managers. The results of this were a complete RFI arriving at a shortlist within a few days instead of weeks or months. The client then further engaged Polymath to support the full RFP process for a Private Label prepaid card solution in multiple European Markets.

Global Retail Brand

Background

The client wanted to understand what options existed to meet their gift card needs on a global basis.

Polymath Consulting Project Delivery

Over a two day workshop Polymath was able to engage all key stakeholders (many who had flown in from across the world), outline the pros and cons of prepaid products and identify the best route to market. The workshop concluded with the development of a detailed product specification/proposition of a Scheme Based Private Label solution.

African Bank

Background

The client planned to pitch for a new co-brand prepaid card. They wished to both demonstrate thought leadership to the client and ensure that they proposed the best product proposition.

Polymath Consulting Project Delivery

Polymath developed and carried out a full day workshop with both the client bank and co-brand partner during which all options for prepaid cards were explored and a detailed product proposition developed.

Programme Manager

Background

The programme manager needed to better understand how it could take a proposition forward with a particular client.

Polymath Consulting Project Delivery

Through a workshop Polymath developed and facilitated a workshop with the programme manager resulting in the development of strong proposition that they were then able to take to the client.

Scheme/Conference Organiser

Background

The scheme was keen to understand why in Italy and the UK retailers had not embraced selling open loop prepaid card.

Polymath Consulting Project Delivery

Polymath interviewed banks, programme managers and retailers to identify both perception differences and also sales mis-communications about what and how open loop prepaid cards should be promoted and sold into retailers.

Scheme

Background

The client wanted to better understand the opportunity for commercial prepaid cards in the UK market.

Polymath Consulting Project Delivery

Polymath Consulting carried out in-depth interviews across four key commercial segments with a number of organisations. This led to key insights for the scheme on how commercial prepaid cards would be used and perceived in the UK.

Open Loop Processor

Background

The client wanted to engage banks in its home market to position itself as a thought leader in prepaid.

Polymath Consulting Project Delivery

Working with the client we put together a one day workshop to senior bankers that allowed the client to be clearly positioned as a thought leader in the market.

Global Bank

Background

The client was actively considering whether to outsource their prepaid processing requirements or to bring over their international platform.

Polymath Consulting Project Delivery

Polymath Consulting wrote and ran a detailed anonymous RFI after first working with the client to develop a short list, based on agreed filter criteria, of those prepaid processors who were likely to meet their requirements. The client's confidentiality was maintained throughout the process and it obtained the information required in order to make a business decision on how best to go forward.

Global Bank

Background

The bank, as part of larger project, needed to understand current market capabilities around instant issuance.

Polymath Consulting Project Delivery

Polymath wrote and issued an anonymous RFI to instant issuance providers. The result was a detailed market understanding whilst maintaining the confidentiality of the client. The client was able to clearly understand their options and integrate the identified solution into the larger product requirement.

EML Holder and Scheme Member

Background

The client wish to understand what the implications of becoming a BIN Sponsor would be from a cost, regulatory and resources point of view.

Polymath Consulting Project Delivery

Polymath carried out an initial briefing and then developed a gap analysis to identify how the organisation could go from where they were, to offering BIN sponsorship and what the implications would be on structures, resources and regulatory matters.

Global Sports Brand

Background

The brand wished to understand better how it could leverage its fan base through a prepaid card offering.

Polymath Consulting Project Delivery

We supported the client in recommending a strategy to go to market and then in the development of the RFI and selection of potential vendors.

European Telco Operator

Background

This Fixed Line phone booth operator wanted to understand the opportunities around launching a prepaid card and the best route to market.

Polymath Consulting Project Delivery

Polymath held a workshop with the client to assist in developing their product proposition, and to help in understanding the pros and cons on their route to market. At the end of the workshop Polymath was engaged to run a mini RFI to clarify certain key points from market providers and analyse the findings. This resulted in a clear understanding of the product proposition, route to market and best potential providers.

Open Loop Prepaid Processor

Background

The open loop prepaid processor was a strong national and Asian regional operator. It was keen to benchmark its capabilities on a global basis and create a product development roadmap to support their strategy as a leading global prepaid processing platform.

Polymath Consulting Project Delivery

Polymath spent one week on site and, worked with the product team, along with pre analysis information, in a workshop environment to review the current platform and identify the development required to turn it into a world class platform. Further support was provided in developing a detailed road map and then in running a scorecard system to ensure that all key stakeholders bought in.

Closed Loop Prepaid Processor

Background

The processor wanted to review their proposal structure.

Polymath Consulting Project Delivery

We carried out a detailed analysis not only of prices but also how the company offered its services in terms of terminology, the method it priced and how this compared to the overall market. We then presented recommendation on how they might change descriptions and structure of their pricing to make it easier for client to understand.

Closed Loop Prepaid Processor

Background

The client wished to understand whether to certify their platform for open loop transactions.

Polymath Consulting Project Delivery

Polymath presented a detailed analysis of the complete open loop value chain. In addition we delivered typical market pricing figures for all elements along with analysis of particular prepaid segments. Using this work we concluded on the viability for the processor to enter the market. We included an outline of scheme certification costs and timings as part of an overall business case development.

International EWallet x 3 clients

Background

Clients were looking for a prepaid card processor to support the launch of their prepaid card linked to a wallet.

Polymath Consulting Project Delivery

Working with the client, we agreed a list of filter criteria. Based on this, we assessed the market and confirmed a shortlist of potential providers. We then developed detailed score card to analyse the responses. Based on the results of the detailed score card activity, we approached partners and assisted the client in moving to contracts.

Global Hotel Group

Background

The client was launching a closed loop commercial card/account card in a leading European market.

Polymath Consulting Project Delivery

We carried out a detailed market analysis to understand the target audience behaviour, perceptions of commercial cards, potential usage of such products and competitor analysis. Recommendations were then made on how to position the product for a successful launch.

Islamic Bank of Britain

Background

IBB was looking to launch a number of new products including ones specifically targeting the SME sector

Polymath Consulting Project Delivery

We carried out a detailed market analysis including competitor offerings for the SME banking sector. Identified key product features for the product proposition offered by the bank

Global Telecommunications Group

Background
The client was looking to create a global mobile wallet solution, with an associated open loop prepaid card.

Polymath Consulting Project Delivery
Our initial engagement was to support product proposition. We carried out workshops to help develop the best customer proposition. We were then further retained to support on the KYC/AML analysis. We carried out a detailed analysis of all potential partners with recommendations and were then requested to help further by providing support on the implementation of the preferred solution.

Global Money Transfer Service

Background

Prior to launching open loop Gift and GPR cards the client wanted a detailed understanding of these products in specific markets.

Polymath Consulting Project Delivery

Carried out detailed market analysis in four countries looking at open loop Gift and GPR cards, consumer behaviours, market potential, competitive product positioning and made recommendations on how the products should be positioned for launch.

Global Money Transfer Service

Background

The company wanted to understand if it was viable to create a global loading network for prepaid cards using their existing infrastructure.

Polymath Consulting Project Delivery

Carried out a review of approximately 30 markets globally with full analysis of the countries to assess the strength of open loop prepaid cards and consider what loading channels were available, and used. In addition we analysed the costs of existing loading channels for open loop prepaid cards and also considered other key card and payment metrics. A detailed score card was developed to enable prioritisation of markets.

Scheme Network

Background

The network was looking to roll out its prepaid strategy but was not clear on key markets and opportunities.

Polymath Consulting Project Delivery

Polymath Consulting carried out an analysis of 20 key markets looking at the potential for open loop prepaid cards in those markets from a qualitative perspective. We also established which products had already launched, and which were the best fit to the Network's global strategy.

African Bank

Background

The Bank had issued Credit and Debit Cards but now wished to issue open loop prepaid cards with a co-brand partner.

Polymath Consulting Project Delivery

The initial engagement was to work with the bank and the co-brand partner developing the product proposition and business case. Polymath then supported the 'sell in' to the board to gain project approval. The final product included a mobile phone enabled wallet solution with P2P payments and money remittance. Subsequently we were retained to run the RFP, identify the right launch partners - both processing and remittance. We then supported the bank right through to project launch including, product pricing, implementation, and risk and fraud set up and monitoring procedures.

Major UK Online Retailer

Background

One of the largest online retailers in the UK wanted to investigate and understand what prepaid card products it could offer, and the best route to deliver these products.

Polymath Consulting Project Delivery

Through a series of workshops, Polymath Consulting outlined what Prepaid Cards were and the different types of products both from a feasibility and availability point of view. Polymath also outlined the development of a core business case. We conducted further workshops to get buy in from stakeholders and then ran a full Closed Loop Prepaid Card RFP for the client. Polymath Consulting's costs were only 60% of that budgeted and the card products developed have since been rolled out to further products within the group.

Global Payment Gateway

Background

The gateway needed to prioritise markets as part of their global expansion plans.

Polymath Consulting Project Delivery

Polymath carried out a detailed analysis of 64 markets around the world, looking at their regulatory environment, cards and payments environment and banking structure along with other macro economic factors for the market. A detailed scorecard was then developed to enable the targeting of markets by region and global prioritisation.

European Programme Manager

Background

The Programme Manager was facing challenges with one of their BIN sponsors.

Polymath Consulting Project Delivery

We carried out a detailed review of their contract and made recommendations on actions they could take to resolve the situation.

European Bin Sponsor

Background

The client was looking to expand their relationships to additional processors and programme managers. In addition they wished to verify their risk and compliance procedures.

Polymath Consulting Project Delivery

Polymath Consulting carried out a detailed analysis and review of their risk and compliance procedures making recommendations on where improvements could be made. We reviewed the potential contract with the new processor making recommendations around commercial considerations, and how ongoing relationships with processors and programme managers could be structured.

European Programme Manager

Client: European Programme Manager

Background

The Programme Manager was looking to understand better their position in the market for both valuation and sales reasons.

Polymath Consulting Project Delivery

We carried out a detailed analysis of the Programme Manager market identifying where competitor were stronger/weaker along with what their positioning vis a vis the client was in the market.

Case Study: UK Post Office

Client: UK Post Office

Background: Wished to launch prepaid cards

Polymath Consulting Project Delivery

Acted as the subject matter expert in conducting the RFI and then RFP (PQQ) under OJEU guidelines.