Siloed payment services using different interfaces and messaging types can restrict payment type choices, increase costs, and reduce efficiency.
Goals and Objectives
Use a unified payment system to offer customers the option to determine a settlement based on a range of criteria such as lower costs, preferred settlement timing, or some other criteria regardless of the initiating payment channel. Decision models can be more complex.
Service-oriented architecture, BDA, and AI/ML
Use Case Summary
Using a combination of a services-oriented architecture, data, and machine learning, payments can be automatically routed based on criteria set by the institution or negotiated with the individual customers, and new settlement networks can be added more quickly.