Midway, the financial arm of Grupo Guararapes (controlling Riachuelo) and the largest issuer of Private Label cards in Brazil, entered into a partnership with Serasa Experian in order to expand the consumer base and personalized credit offers. In order to become a bank, the finance company used a combination of solutions to optimize its operations both for the acquisition of new customers and for managing offers for the more than 31 million Riachuelo Card holders.
Previously focused on developing technological solutions in-house, Midway changed its business strategy to grow even faster. The first step was to seek an external partner that could provide more flexibility and flexibility to its credit engines for card orders. PowerCurve Originations and Hunter, both solutions from Serasa Experian, were chosen because they allow the automation of decisions with the necessary efficiency to manage customer acquisition strategies, providing real-time responses, in addition to mitigating fraud risks.
The implementation of the solutions brought a significant operational gain and allowed Midway to leave a scenario where 100% of proposals went through the credit desk for manual review and reached 80% of automatic approvals with the implementation of the new credit granting tool, based on PowerCurve Originations. It supports the entire product portfolio (cards and personal loan) and is consumed by Riachuelo's origination channels (317 physical stores through counter or tablet - and in its digital app), consistently, already contemplating intelligence for fraud prevention through integration with Hunter.
Process optimization
The combination of Serasa Experian's products streamlined the decision-making process, which simplified the request forms and resulted in a reduction in service time by 72% in physical stores - reinforcing the company's growing focus on the best customer experience, as well as it made it possible to create a single front-end on the credit desk, providing greater flexibility in checking the data in the proposals eventually derived for analysis.
“We have to focus on business development and customer experience and this motivated us to find the best partner in Brazil, including references and real experiences with other customers in Latin America. Our decision for Serasa Experian proved to be very right and we developed an exceptional project together. PowerCurve gives us the possibility to create, test and implement new strategies very quickly, with the process in the user's hands and very low dependence on the technology area”, says the executive director of Products and Operations at Midway, Paulo Alexandre Veiga Mendes.
With a focus on improving the customer experience in the relationship with the brand, and due to the positive results already achieved, Midway expanded its partnership with Serasa Experian to optimize personalized offers through a customer management solution, PowerCurve Customer Management This solution allows the automation of propensity, behavior and scoring models and the generation of strategies that enable personalized treatment for each customer, including rates and limits differentiated by profile.
“We brought our global experience to solve Midway's very complex business challenges, automating the operation through our platforms and for them to focus on the most important, business strategy. Thanks to the sophistication of our PowerCurve Originations, Hunter and PowerCurve Customer Management solutions, the company has more agility in operation and improved customer experience. We believe in Midway's growth and look forward to continuing this successful partnership,” says Serasa Experian's Vice President of Decision Analytics and Marketing Services, Mariana Pinheiro.
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