Sutton Bank is an FDIC-regulated, Ohio state-chartered bank. They have been in the payment business about 20 years, specifically in the prepaid space.
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Sutton initially identified three areas where they wanted to see improvement:
- Increasing the speed at which new client data was added to the system
- Improved fraudFraud is defined as a deliberate and deceptive act carried out with the intent to gain an unfair or unlawful advantage. Fraud is mostly associated with deceit, misrepresentation or concealment of information in order to gain a financial advantage and personal gain. The term fraud encompasses a wide range of dishonest activities, including but not limited to creating false statements,... More reporting and regulatory complianceRegulatory Compliance refers to the adherence to laws, regulations and industry standards of an organisation relative to its operations. More
- Greater flexibility and expanded choices for data end-users
Because Lewis ( Jeff Lewis, Senior Vice President of Payments and Prepaid CardA Prepaid Card is a payment card that has been preloaded with a specific amount of money. The balance can then be spent until it is exhausted, which is a more convenient and budget-friendly alternative to credit or debit cards. More Services at Sutton Bank ) had previously worked with Adwait Joshi, founder and CEO of DataSeers, he invited Joshi to a strategy session at the bank.
Read the entire case study in Dataversity to learn how has DataSeers been helping Sutton Bank.