Current Situation
Financial institutions face challenges in harnessing, managing, and operationalizing payments data, which results in operational inefficiencies and missed opportunities in dynamic pricing, performance management, and personalization.
Goals and Objectives
Data-driven payments is a strategy that harnesses and operationalizes payments data. This data can be extracted from new real-time, ISO 20022–based transactions or from existing wire/ACH/SWIFT transactions. It will be normalized, unified, and operationalized to enhance management and efficiency at every point in the payment and settlement flow.
Technology Deployed
- Big Data
- Analytics tools
- BI
Use Case Summary
Data-driven payments will be the bedrock of management capabilities, performance management, automated payment repair, and dynamic pricing.