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.
- Big Data
- Analytics tools
Use Case Summary
Data-driven payments will be the bedrock of management capabilities, performance management, automated payment repair, and dynamic pricing.