The Logic Group wins praise from Standard Life for cutting card processing costs by 60%
4th February, 2008: Fleet – The Logic Group specialists in the secure management of information and transactions across Europe have announced significant business benefits for Standard Life through its Managed Payment Processing Service, including a 60% reduction in card processing costs.
Following an evaluation Standard Life have been able to identify significant savings and tangible business benefits by switching from operating on payment card acceptance infrastructure themselves to a Managed Service from The Logic Group.
Standard Life is one of the UK’s largest financial service providers with over 10,000 employees and 7.3million customers across two continents. By implementing their proven Managed Transaction Service, The Logic Group have been able to remove a considerable headache from Standard Life’s day-to-day operations by providing a flexible, secure and scalable system capable of processing significant quantities of transactions quickly, while delivering improved profitability through reduced costs.
The service has enabled Standard Life to enjoy a number of significant benefits which amounted to more than just financial savings. These include a simplified path to PCI: DSS compliance, delivering a trusted payment environment for customers, access to multiple banks, an easy to implement solution and reduced business risk.
“The Logic Group Managed Service has enabled us to reduce our card processing costs by 60%” said Bob Cunningham, Senior Project Manager at Standard Life. “Professional, knowledgeable and motivated project managers from The Logic Group took ownership for implementing the new Managed Service within Standard Life. The Logic Group maintained excellent communications throughout and had a strong focus on getting the job done.” Bob Cunningham concludes, “We have been delighted that the project was implemented both on time and within budget and is already delivering impressive results.”
The Logic Group Managed Service handles the authorisation, validation and settlement of credit and debit card payments accepted by Standard Life’s contact centre operatives taking payments from their customers.
Standard Life has been able to leverage The Logic Group’s market leading secure Managed Service IT infrastructure together with its strong bank and card scheme relationships. This infrastructure is used by some of Europe’s largest organisations to perform card validation, authorisation and settlement services to Acquiring Banks and E-gift providers, together with 3D Secure based Payer Authentication. The service is built in full compliance with the Payment Card Industry Data Security Standard (PCI:DSS) and was the first multi channel payment service in Europe to gain this certification.
“With over 20 years of experience in managing information and transactions securely, The Logic Group has the specialist skills, capabilities and expertise that standard Life were seeking”, comments Paul Russell, Product Marketing Manager at The Logic Group. “We are thrilled to have delivered secure, efficient payment interactions, delivering enhanced financial performance for Standard Life and a superior experience for their customers.”
About the Logic Group
The Logic Group partners with leading organisations across Europe to enhance the effectiveness, security and profitability of their customer interactions.
The company focuses on the secure management of information and transactions delivering improved customer insight and loyalty, the provision of trusted card processing and payment environments coupled with the flexible IT infrastructures that support the enhancement of customer experience across all points of interaction.
The Logic Group aims to grow business value for its clients through innovative, high quality IT services, solutions and products that can help them deliver increased revenue, improved profit and reduced operating costs and risk.
The company is able to leverage in excess of 20 years experience in its field working with over 1,000 organisations across the financial services, retail, transport, communications, utilities, and leisure and hospitality sectors worldwide.
For more information call +44 (0)1252 776 700 or visit our website:
www.the-logic-group.com
