Prepaid debit cards help serve the underbanked community, by providing to those who historically have not had a banking relationship, the ability to shop anywhere a debit card is accepted.

This particular prepaid debit card service provider was growing fast and was eager to go public. But several obstacles stood in their way.

They had limited access to their own internal information—they needed to identify bottlenecks within their organization.

Their primary instrument for monitoring revenue was a spreadsheet, which included the number of cards sold, the dollar amount loaded on each card and the amount spent. Ironically, they were calling this spreadsheet their “Daily Report,” in spite of the fact that it was only being created monthly due to the complex manual process involved.

Consequently, the company did not know:

  • how fast they were growing
  • how to measure their business segments, which meant they had no idea where growth was actually occurring
  • how many opportunities existed in the pipeline
  • how to make adjustments mid-month

Clearly, the company needed an internal reorganization. In order to take the company public (IPO), they realized they would first need to:

  • resolve reconciliation issues to prevent the need to restate their books in the future
  • have their books balanced daily to track funds transfers (which, by the way, amounted to up to $750 million per day)
  • consider SEC and SOX compliance
  • come up with an 18- to 24-month roadmap to IPO

With that in mind, the client engaged a forensic accounting firm to determine the root causes of their inability to provide clean, sustainable, accurate financial reporting. After dedicating three people to the project for three months, the accounting firm basically came up dry.

That’s when the client realized it was time for a fresh idea.


Sense Corp quickly identified the things that the client needed to have in place in advance of the IPO:

  • Secure, auditable information
  • Financial tracking systems—solid financials that the client could feel confident about
  • Sales Analytics—insight into what’s going on and what’s in the pipeline
  • Revenue forecasting capabilities to anticipate quarterly results
  • Marketing tools

Next, we used our technical expertise to establish a new financial infrastructure. We created sustainable financial systems that monitored and tracked activity while also providing easy access to information.

There’s a lot of fraud with debit cards. Sense Corp showed the client the best way to curtail it: shorten the clearance/settlement cycle with improved controls to better manage the float.

Sense Corp also:

  • created a true “daily report” that was accessible even on a mobile phone
  • provided customer segmentation that identified the client’s most valuable customers


Customer segmentation influenced marketing and sales decisions and provided additional insights that allowed them to grow their business.

With Sense Corp’s help, the client had a very successful launch with an initial IPO of over $200 million raised and a $1.2 billion enterprise valuation.

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