Switch, Inc., a Seattle-based financial technology company that offers the only comprehensive technology platform to instantly update any payment type on any online merchant site, announced today that the company has released a white paper on the benefits of their unique application of Robotic Processing Automation (RPA) for cardholders, card issuers and merchants. The document, “Bringing RPA Technology into the Payments Ecosystem,” describes how Switch’s CardSavr™ leverages this technology to solve online card-on-file replacement and management issues, yielding higher transaction volumes and brand loyalty for issuers.
RPA involves the use of flexible, reusable and non-intrusive software components, or “robots,” which interact with and manage systems and applications. It performs automated execution of ordinary human user processes exactly the same way a human user does. CardSavr uses these automated processes to eliminate tedious tasks associated with manual card updates without screen scraping.
“Switch has established itself as a leader in RPA for the financial services industry. The team is innovative and delivered on its technical vision consistently since its founding,” said Mitch Ratcliffe, longtime technology strategist, journalist, former BIA Advisory Services analyst and partner at the New York-based marketing strategy and execution firm, Metaforce, Inc. “Switch’s platform will transform the card management experience for consumers and substantially lower costs of the card replacement process for banks and issuers.”
Switch’s platform and CardSavr service enables card issuers to provide their cardholders with automated card provisioning and updating within issuer’s existing digital assets, anywhere cardholders shops or make payments online. The service offers issuers the strategic ability to broaden the reach of their cards and maintain Top of Wallet®.
“Switch has designed a platform that uniquely combines our scalable RPA engine, multi-patent pending machine learning algorithms and our proprietary software to present a one-of-a-kind, easily integrated and secure API,” said Chris Hopen, Co-founder and CEO of Switch, Inc. “Our system is smart, always learning and adapting to an ever-changing online world, while continually increasing its level of performance.”
“Switch visits and updates customer chosen accounts to keep cardholders connected to the services on which they depend,” Ratcliffe added. “Automation in financial services results in saving time and preserving access to credit cards for the cardholder, making their life easier. Switch’s CardSavr service and Robotic Process Automation eliminates hassles for cardholders when changing or replacing credit cards.”
Access the white paper at switchme.com/whitepaper-payments-ecosystem
About Switch, Inc.
Headquartered in Seattle, Switch creates one-of-a-kind cardholder experiences that drive cards to Top of Wallet®. The company’s payment card solutions protect and increase card transaction volume for issuers. Switch’s proprietary and patent-pending autonomous browsing technology, leveraged to deliver its CardSavr API, helps cardholders update and any card on any site. You can learn more about Switch at switchme.com or follow the company on the Switch Blog, Facebook and Twitter.