Boston, November 24, 2015 – Payments analytics has become one of those topics you hear about from all banks and many vendors, but it is unclear precisely what it means for each of them. While a large number of banks have adopted payments analytics for payments operations and fraud prevention, only a handful have begun to use their payments data to develop client services. Banks’ enthusiasm for these new products grows, but what are their plans for developing these services? And what challenges do they face?
This report focuses on banks’ development of payments-analytics-based products and services for their corporate customers. It is based on an Aite Group online survey and interviews of banks of various sizes. Aite Group’s recent report on payments analytics covers the various opportunities to utilize payment analytics—find it here.
This 20-page Impact Report contains 15 figures and one table. Clients of Aite Group’s Wholesale Banking & Payments service can download this report.