SIOUX FALLS,South Dakota, March 21, 2017 – Capital Services recorded another year ofsolid growth in 2016, again delivering strong-performing card assets for itsfinancial institution clients while addressing emerging market pressures in thecard industry.
Servicedaccounts were up more than 17 percent in 2016 over 2015, with the companysurpassing the milestone of 800,000 accounts managed.
CapitalServices, founded in 1998, focuses on asset origination to create successfulcard payment programs for its clients. To maximize return on assets, Capitaluses sophisticated tools to analyze and manage those programs. The CapitalServices approach starts with proprietary score cards that are built from its ViPRSMprofitability system. Capital then can monitor and manage portfolios at anaccount-level basis, giving a financial institution the visibility needed todevelop performance-boosting strategies.
Like so manycompanies, Capital Services experienced an increase in card fraud attempts in2016, which CEO Chuck Hendrickson said was partly due to criminals’ efforts totarget those cards that have not yet been transitioned to the more secure chipcards.
“We were ableto mitigate our fraud losses with a number of new strategies that we put intoplace,” Hendrickson said. “On the analytics side, we are constantly mining datato detect fraud and then take rapid action to stop it. As challenging a year asit was, we emerged from 2016 with ever-stronger skill sets within the company.”
Hendricksonalso cited market saturation as a challenge in 2016. “It is no secret that the numberof credit card holders has risen to levels we have not seen since 2008,”Hendrickson said. “We continue to test different products and build outdifferent channels to reach our client’s target market.”
Hendricksonalso pointed to continued growth in 2016 across the various portfolios managedby Capital Services, reaching 820,000 accounts. He credited the year’sperformance to the ongoing commitment of the company’s employees.
What CapitalServices does differently is to leverage the power in the card assets through afocus on the fundamentals of acquisition costs and key performance indicatorsin order to assign the right product to the right offer. Using its integratedasset management and servicing platform, the company has the ability to buildand deliver comprehensive solutions that others cannot provide. The CapitalServices system includes portfolio management, compliance services, financialmodeling, and managed services.
CapitalServices is an innovative payment portfolio management and servicing companythat creates, evolves, and services profitable payment programs in partnershipwith our clients. Focused on financial strength, we currently have over 800,000accounts under management. Capital Services began operation in 1998 with afocus on the management and servicing of credit card portfolios. The companywas built by executives with years of experience in the financial services andcredit card industries and has grown beyond credit cards to include a full rangeof payment products and services. For more information, visit www.Capitalsvcs.comor chat with us on LinkedIn.