Card Issuer Program Management Corp., the outsourcing firm that helped PNC Bank Corp. land its lucrative deal with the American Automobile Association, has changed strategy since its relationship with PNC ended.
Jerry D. Craft, president and chief executive of the Atlanta firm, said Card Issuer has been offering traditional consulting services for the past several months.
"Originally, our mission was to manage programs, to be a doer," said Mr. Craft.
"PNC was not a setback," said Robert Burke, an independent consultant in Delaware who resigned last year as chairman of Bank of New York's card program and works with Card Issuer on some projects. "It was a feather in Jerry's cap. Both parties agreed that once PNC reached a certain size, PNC could take the business back."
Card Issuer is targeting the top 40 credit card lenders, offering consulting services, focusing on lenders' fears of increasing credit losses.
The firm is offering a new software tool, Risk Check, which it developed to use for modeling and forecasting to help lenders learn the cause of their losses. Since Card Issuer began marketing its consulting services, it has been offering Risk Check as a stand-alone product.