Intelligent Environments has partnered with LogicaCMG to offer a hosted online credit card application and account management system for bank issuers. The vendor says the initiative has already resulted in a significant contract with a major UK retail bank, which previously had no business relationship with iE.
The venture allies iE's credit card software with LogicaCMG's consultancy and systems integration expertise. The idea is to offer a complete, outsourced online solution that is quick and cost effective to implement and support.
Initially aimed at the UK and European credit card market, LogicaCMG and iE intend to broaden the offering to other financial services organisations.
The partners believe the low set-up costs of the initiative will widen the potential market further by appealing to smaller financial institutions.