1. Introduction:  The purpose of this document is to outline the requirements for a new credit card product that will be launched by our company. The objective of this project is to increase our customer base and revenue by offering a competitive credit card that meets the needs of our target market.
2. Business Objectives:  The business objectives of this credit card product are to:

• Increase customer acquisition by attracting new customers who are interested in a credit card with competitive features and benefits.
• Improve customer loyalty by providing a credit card that meets the needs of our existing customers and encourages them to continue using our products and services.
• Increase revenue by generating income from interest charges, fees, and interchange fees.

3. Scope The credit card product will be targeted towards individuals who are looking for a credit card with competitive features and benefits, including rewards programs, low interest rates, and flexible payment options. The credit card will be available for use in the United States, and will comply with all applicable regulations and laws.
4. Features and Functionality The credit card product will include the following features and functionality:

• Rewards program that offers cash back, points, or miles for purchases made with the card.
• Low interest rates and fees.
• Flexible payment options, including minimum payment amounts and payment due dates.
• Online account management and mobile app.
• Fraud prevention measures, such as real-time transaction alerts and card lock features.
• Customer service and support available 24/7.

5. Business Rules The following business rules will be used to govern the credit card product:

• Eligibility criteria will include a minimum credit score and income requirement.
• Credit risk assessment will be conducted for all applicants.
• Fraud prevention measures will be implemented to detect and prevent fraudulent transactions.

6. User Requirements The user requirements for the credit card product include:

• Easy application process.
• Clear and transparent terms and conditions.
• Simple and intuitive rewards program.
• Convenient and secure payment options.
• Accessible and responsive customer service and support.

7. Technical Requirements The technical requirements for the credit card product include:

• Integration with existing systems and platforms.
• Compliance with data security and privacy regulations.
• Compatibility with mobile devices and web browsers.
• Real-time transaction processing and reporting.

8. Implementation The implementation plan for the credit card product includes:

• Development and testing of the credit card product.
• Marketing and advertising campaign to promote the credit card product.
• Training and support for customer service and support staff.
• Ongoing monitoring and evaluation of the credit card product’s performance.

9. Risks and Mitigation The potential risks associated with the credit card product include:

• Credit risk and default risk.
• Fraud and security risk.
• Regulatory and compliance risk. The following mitigation strategies will be implemented to minimize these risks:
• Credit risk assessment and monitoring.
• Fraud detection and prevention measures.
• Compliance with all applicable regulations and laws.

10. Conclusion The credit card product has been designed to meet the needs of our target market and achieve our business objectives. The implementation plan includes all necessary steps to successfully launch and maintain the credit card product, and mitigate any potential risks. We recommend approval of this Business Requirement Document for the credit card product.

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