National Processing: Confidence in Risk Decisions at Lightning Speed
August 20, 2022
One of the things that we were not willing to compromise on is our confidence level, to be able to decide on whether we approve or decline the account. But the problem came down to how long it took to get to there. National Processing is a merchant service company. We’ve predominantly, one of the top rated credit card processors in the nation. And we’ve been doing this for 14 years and really focus on transparency, straightforwardness, and honesty with our merchants.
What was the biggest challenge for your company before working at Agreement Express?
One of the biggest challenges before working with Agreement Express for National Processing is really making sure that we were able to scale, and grow, and automate our processes. Because we were pretty confident with our decisions that we’re making, but that was honestly one of the problems that we had, is it took us so long to get to that confidence level. And so, Agreement Express has been able to drastically reduce that time for us and increase our productivity.
What market trends you’re seeing in the payments industry?
We’ve seen some trends in the merchant service industry where automation’s a big deal. Right? So, the major players out there have become fully-automated in their underwriting and that’s something we see that’s starting to be a standard for all merchant services. So, that’s where we were looking for solution, like Agreement Express to really follow suit and become as much automation as possible to save our human capital for really those times where it takes somebody to look into it. We were really looking for a high percentage of auto-decisioning to be able to have an instantaneous approval or decline. And that’s, again, I feel like where the industry is going where National Processing needs to be.
How was the adoption experience of Agreement Express at National Processing?
We had a huge growth spur with National Processing and we’re in a hurry to be able to get the software in place as quickly as possible. They were able to get us live in 13 days and we were able to really fully adopt it in 30 days, which is extremely fast for us.
How has Agreement Express impacted your Sponsor Bank approval times and relationship overall?
Before, we were taking about an hour and a half for us to get to a decision. And now, it’s under 30 minutes, which is a huge increase in our productivity and our time. But really, the winning story for us is the adoption that our sponsor bank took and being able to accept our scorecard in Agreement Express instead of sending them an old fashioned email. Now, they can have logins and get us approvals throughout the day, which saves us four or five hours in our turnaround of our underwriting.
What’s one thing you can’t live without after using Agreement Express?
Agreement Express’s plugin directly with Salesforce has enabled us to remove the data entry in the day to day process for us. And that’s something that we can’t live without. It’s also probably automated the majority of our decisioning, right? And so, we’re at 70%, 80% auto-decisioning. It gets that out of the hands of the underwriters and enables them to go back and dig into bigger accounts and accounts that need more attention. So, those are two things that I know that National Processing can’t live without.
How is Agreement Express helping you plan for the future at National Processing?
National Processing is excited for the next five years. We’re looking for it to really position ourselves as one of the top merchant service companies. As business progress, merchants are expecting a quicker decision process, similar to the way that Amazon has changed the industry and be able to have a product same day or next day in your hands.
Agreement Express has really helped us be able to get a decision back to our merchants quickly and give them the experience that we’re looking for to give from National Processing.