March 28, 2016
SIOUX FALLS, South Dakota, March 28, 2016 - Exceeding its revenue forecasts for 2015, Capital Services continued to deliver strong-performing card assets for its financial institution clients, with solid growth in both the company's gross revenue and its billing for active accounts.
Serviced accounts were up 29 percent over 2014, significantly higher than the 23 percent growth that Capital Services had predicted for 2015.
Capital Services, founded in 1998, focuses on asset origination to create successful card payment programs for its clients. To maximize return on assets, Capital uses sophisticated tools to analyze and manage those programs. The Capital Services approach starts with proprietary score cards that are built from its ViPRSM profitability system. Capital then can monitor and manage portfolios at an account-level basis, giving a financial institution the visibility needed to develop performance-boosting strategies.
The strong performance was due primarily to robust growth within Capital Services' existing servicing portfolios said Chuck Hendrickson, CEO.
"The key for us is our continuing ability to acquire and manage profitable card accounts for these portfolios," Hendrickson said. "Our portfolios have grown beyond our affiliate bank clients to include non-affiliate and non-bank entities. They are seeing our ability to acquire the asset and manage the performance throughout the product lifecycle."
What Capital Services does differently is to leverage the power in the card assets through a focus on the fundamentals of acquisition costs and key performance indicators in order to fit the right product to the right offer. Using its integrated asset management and servicing system, the company has the ability to build and deliver comprehensive solutions that core processors simply cannot provide. The Capital System includes portfolio management, compliance services, financial modeling and managed services.
Hendrickson also noted another significant milestone was surpassing 700,000 accounts under management.
Capital Services is an innovative payment portfolio management and servicing company that creates, evolves, and services profitable payment programs in partnership with our clients. Focused on financial strength, we currently have over 700,000 accounts under management. Capital Services began operation in 1998 with a focus on the management and servicing of credit card portfolios. The company was built by executives with years of experience in the financial services and credit card industries and has grown beyond credit cards to include a full range of payment products and services. For more information, visit www.Capitalsvcs.com.
500 E. 60th Street North• Sioux Falls, SD 57104• 605.782.3300 © 2017 Capital Card Services, Inc.. All Rights Reserved.