Understanding How Your Customers Pay, and Why It Matters
Our society is increasingly becoming cashless. The volume of debit payments and total credit card value continues to grow, while innovative fintech such as mobile wallets, P2P mobile payments and cryptocurrency also make inroads. Across the payments value chain -- acquirers, networks, issuers, merchants and their customers -- processors are tasked with analyzing this overwhelming volume of detailed, multi-channel transactional data, and leveraging it to deliver enhanced value and insight to their customers, in exchange for deeper loyalty and retention, and new monetization opportunities.
While the Payments industry rockets forward, the systems necessary to integrate, aggregate, model and analyze this transactional data can take years to develop. To help payments organizations glean business benefits from this analysis more quickly, Information Builders created its Accelerator for Payments: Transaction Insights. This new Accelerator is split into a payments overview page, a quick reference overview of payments, and a report generator to provide a deeper analysis and custom report generation. The four key performance indicators (KPIs) - trend analysis, geospatial segmentation, customer spend density, and card segmentation - built into the Accelerator provide financial organizations a unique competitive “fintech-like” advantage by capitalizing on perhaps the most valuable asset they have, data, in a powerful new way. With this level of analysis and visual insight, transaction data fuels new levels of buying behaviors, business performance, opportunities for growth, and pricing optimization in ways that were not possible earlier.
The Accelerator for Payments: Transaction Insights digs deeper into sales, volumes, transactions, and customers to bring actionable understanding from often underutilized and overlooked data.