The Malta Independent 15 June 2024, Saturday
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Crimsonwing implements Microsoft Dynamics NAV 2013 at Insignia Cards

Malta Independent Wednesday, 30 April 2014, 18:11 Last update: about 11 years ago

Crimsonwing, the leading IT Solutions Company in Malta, announced the successful implementation of Dynamics NAV ERP solution at Insignia Cards Limited, fully configured to meet the electronic commerce and financial processing software requirements of the client.

Insignia, founded in 1996, is the world’s finest and only bespoke high-end lifestyle management group that offers financial and luxury lifestyle management services to ultra-high net worth individuals predominantly in Europe, as well as the US and Asia, through a range of credit cards. Insignia Cards Limited, a financial institution licensed and regulated by the Maltese Financial Services Authority, launched the YES Money Card - a credit card and a personal loan combined in one – that can be used exclusively at local YES net merchants, and which offers clients the ability to split the repayments of specific purchases in equal monthly instalments up to 36 months. Insignia Cards Limited also offers a range of VISA Cards locally and will be launching further credit cards in the near future.

Insignia Cards Limited, operating from their offices in Portomaso, had approached Crimsonwing for a robust Enterprise Resource Planning (ERP) solution that needed to be fully integrated with their credit card management system of third party software. The system would reliably manage all facets of their clients’ transactions, whilst also facilitating processes involved in operating a 24/7 call centre.

Crimsonwing thus implemented a customised financial management module for day-to-day business operations at Insignia. This module handles account receivables and account payables transactions using the integration with the third party software, whilst posting to general ledger according to rules defined in Microsoft Dynamics NAV. Additional reporting currency was introduced to facilitate the presentation of final accounts to the board of directors and local authorities.

Microsoft Dynamics NAV cash management functionality was further enhanced to meet SEPA Direct Debit (SDD) and SEPA Credit Transfer (SCT) layout and data regulations. Furthermore, the drawing of final accounts, dimensional analysis and other standard NAV 2013 functionality and reports were perfectly suited to meet Insignia’s needs.

Crimsonwing also provided Insignia with a bespoke customer relationship management module designed around their particular call centre needs for the YES Money Card and all other credit cards that the company offers. This module records enquiries and provides information to customers depending on their individual security levels.

Stephen Abela, Head of Dynamics at Crimsonwing commented, “Microsoft Dynamics NAV 2013, with its various modules including bank management, financial management and customer relationship management, proved the ideal solution to fit Insignia’s requirements. Crimsonwing’s professional consultants and developers have managed to deliver a bespoke solution to Insignia to help them successfully run and grow their business locally and internationally.”

Ephrem Pisani, Chief Information Officer at Insignia Cards Limited said, “We have our mind at rest that with Dynamics NAV solution, which Crimsonwing implemented for our banking needs, especially with the launch of our YES Money Card, all our ERP requirements for timely and secure data, are fully supported.”

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