A new payments ecosystem is emerging, driven simply by the growing demands and expectations we have as consumers. Equipped with a modern embedded analytics and data solution, organizations now have the ability to unlock transaction insights that were formerly trapped inside legacy systems and manual spreadsheets. With the Payment Accelerator automation platform designed in partnership with DMI and Information Builders, organizations are able to improve processes, reduce cost, enhance strategic planning, identify and mitigate competitive risk, measure progress towards business goals and better compete in the ever changing consumer market.
Why Should You Care About Accelerators?
An accelerator is a set of pre-configured analytical capabilities designed to give organizations an unprecedented ability to speed time-to-value for critical business initiatives. Thus, providing organizations a “jump-start” to extend and personalize these capabilities by leveraging existing data and analytics platforms.
The payments accelerator provides dramatically reduced time-to-value insights by utilizing your most valuable data – payment transactions. The insights are designed to be customized to your specific needs, providing organizations with key payment information and high-performance analytics to drive information-based products and services. By leveraging the best in class WebFOCUS platform, DMIs analytical models produce actionable insights regardless of your place in the payments ecosystem.
Forward Looking Data
Every organization strives to better understand who their most valuable customers are, which market segments are under performing and what can be done to create stickiness and better cross selling opportunities. These transaction insights work to shorten the sales-cycle for the entire Payments Value Chain, including merchants, acquirers, financial institutions and payment processors. The insights collected allow the users to gain a better understanding of their customer demographics and product utilization, providing them a more holistic view of their business. In turn, enabling them to cross-sell and manage attrition through pricing optimization and specialized initiatives.
Targeted Retention and Growth
While card processing volumes are continuously growing, especially with the emergence of new channels such as mobility and e-commerce, having the ability to continue to innovate and remain competitive within the marketplace is even more important. Transaction Insights helps you get there by providing a means to connect directly with your base and to create an array of end-user opportunities.
The solution-based payment approach allows for infinite expandability through data and analytics. KPIs and dashboards provide a real-time snapshot of your most relevant business metrics; the embedded analytics provide fast report and query functions. From the base KPIs and visuals provided users can build out predicative attrition models, pricing models, or create a full customer 360 view of the entire portfolio. These pre-configured capabilities provide insights and value to everyone from the analyst to those individuals at the executive level.
Time-to-value is obliterated as the lightweight framework facilitates rapid deployment of new models and insights. As quickly as you can imagine new insights, we can expand the accelerator capabilities. The Accelerator framework is technology agnostic, meaning, we can use just about any backend data system in market. Traditional EDW, ‘Big Data’, streaming, disparate data systems, you name it.
Additional benefits from the transaction insights can be seen here:
To get a better understanding of what payment insights are available, take a test drive of the Accelerator here.
Jason Garneret, Principal Consultant, Strategy, IoT & Analytics Unit