Today, varying payments are often processed on separate and distinct platforms, which introduces operational redundancies and results in fragmented data and operational inefficiencies.
Goals and Objectives
The goal of unified processing is to create a single platform to process every payment type across both retail and commercial lines of business. Unified processing should require a data transformation effort in which the data from every payment type is normalized and operationalized for analytics and insights.
- Integrated payments platform (Payment Hub)
- Big Data
- Analytics tools
Use Case Summary
Implementing a unified or integrated payments platform enables one set of management operations across multiple payment types, including the inclusion of new real-time payment rails.