Ever-increasing competition in the prepaid market makes it more important than ever to assess and refine prepaid card initiatives. E&S and Rich Consulting have teamed up to provide a self-administered, two-part “Program Manager Fitness Exam” for evaluating the health of any current prepaid card program.

The Program Manager Review Program has two phases. Part One of the assessment involves an in-depth review of all Websites used to promote and provide details about the program, to ensure that all critical information been included and is properly presented. The caliber and appropriateness of graphics used on cards and card marketing messages are also examined, as are mobile apps and IVR. Issuer disclaimers and third-party oversight agreements, policies and procedures are reviewed in detail to identify omissions and ascertain completeness. A thorough review of all items for brand, regulatory and bank accuracy is a component of this phase as well.
The first phase includes review of:

  • Websites
  • Issuer Disclamer
  • Card Art
  • Marketing Messaging
  • IVR
  • Mobile Apps
  • Third-Party Oversight Agreements, Policies and Procedures

Part Two begins with a review of fraud and transaction monitoring practices, so that users may gauge whether their procedures are sufficient to minimize risk. Evaluated, too, are alerts and notifications and compliance with applicable guidelines of approval.
The second phase includes review of:

  • Fraud and Transaction Monitoring
  • Alerts and Notifications
  • Compliance With Your Guidelines of Approval

The FDIC and OCC have incorporated third-party risk into their oversight. We take their guidance into consideration, applying our knowledge and expertise to provide an unparalleled, industry-leading review.