According to a recent CapGemini survey, cashless digital payments transactions were anticipated to grow 20% from 2015-2017, continuing a torrid generational pace led by cards, mobile wallets, person-to-person mobile payments and cryptocurrencies. Looking forward, a 2018 survey of young adults indicated that the greatest payments growth to come will arise in payments apps. Across the payments value chain – acquirers, networks, issuers and merchants – processors are tasked with analyzing this overwhelming volume of diverse, multi-channel transactional data to measure and understand business performance, and discover important clues into customer needs and behaviors - in exchange for deeper loyalty, retention and monetization opportunities.
While this payments diversity and growth rockets forward, the systems necessary to integrate, aggregate, model and analyze payments transaction data often take years to develop. In response, Information Builders has developed the Accelerator for Payments: Transaction Insights. The Accelerator is divided into a payments performance overview page, analysis and drill-down, and a report and visualization generator to provide deeper insights into payments trends and opportunities.
The four key performance indicators (KPIs) – trend analysis, geospatial segmentation, customer spend density, and card segmentation – provide payments organizations with a unique and competitive “fintech” advantage by capitalizing on their most valuable asset, data. With this level of analysis and visual insight, transaction data can now fuel new opportunities for pricing, promotion, business performance and growth -- in ways that were not previously possible.
The Accelerator for Payments: Transaction Insights digs deeper into sales, volumes, and geographies to bring actionable understanding from underutilized and overlooked payments data.