Boston, September 23, 2015 – Payments analytics is business-driven and business-driving information that generates new revenue streams from clients. Globally, however, banks’ payments information usually resides in siloed warehouses, and banks therefore fail to align data across multiple payments instruments and channels. Banks that lack the strategy and technological solutions for utilizing this data neglect the opportunities to improve internal processes, optimize target marketing, and provide valuable, actionable information to clients.
This report is the first in a series of reports focused on payments analytics. It describes the many prospects for banks to apply payments data and information analysis, and it informs bank managers’ payments analytics strategies and technology deployments. It is based on Aite Group's extensive knowledge and experience regarding treasury products and services, banks’ challenges, and clients’ needs as well as their understanding of data and information available to and collected by banks.
This 22-page Impact Note contains five figures and three tables. Clients of Aite Group’s Wholesale Banking & Payments service can download this report.