Technology and the coming credit card storm

The credit card industry is girding for some turbulence. Many will have to be nimble to survive. It's fair to say that those who have invested in the technology of acquiring and assessing accounts will have an advantage. Vendors certainly see an opportunity.

Windows in Financial Services notes some applications that might be beneficial right now. In the case of Experian Decision Analytics, a host of tools allow rules to be appropriately set. One app identifies "predictive credit attributes" and more than 440 available credit attributes for analytical purposes. Metavante has noticed a rise in companies aiming for more savvy cross-selling. Some vendors are emphasizing the use of technology to look for red flags. If a customer has begun paying bills with credit cards, that may indicate looming trouble. Companies that have deployed technology in this manner certainly have an advantage, but in the face of a near-depression, it may not be enough.

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