Financial Services

financial services payment processing banks

Payment Processing Firms and Banks

Paying for a product or service must be easy, efficient, and safe. Payment processes are highly regulated, ever-changing and involve several entities. Today’s technologies mean that payment data may come from any platform. Organizations must be ready to securely handle enormous capacity and technical diversity.

Payments systems play a critical role in fraud management and data privacy as part of a comprehensive IT security framework that must span the Internet, mobile devices, social networks, and cloud services. As a result, payment processing organizations are under pressure to:

  • Control compliance costs as the scope of regulation increases and technology certifications (such as PCI HSM) are mandated.
  • Clearly define and implement data protection solutions.
  • Protect data from misuse.
  • Avoid performance bottlenecks that limit capacity and degrade the customer experience.
  • Fully integrate new payment channels to control operational expenses.
  • Minimize the negative impact of reliance on legacy systems and management practices.

By harnessing Kognitio for “performance at the glass” Big Data analytics, predicting customer behaviour, combined with the ability to dynamically tailor pricing, products and/or offerings makes fast and confident, data-driven decision making a reality.

Key areas where the Kognitio Analytical Platform can assist:

  • Product pricing analytics
  • Profitability analyticsfinancial-graphic
  • Competitive edge retention
  • Compliance and regulatory reporting
  • Credit and risk management
  • Claims processing and analysis
  • Customer loyalty
  • Pricing optimization

Kognitio has won the trust of global financial institutions and their rigorous qualification processes. Kognitio knows regulations and how to work with what you already have to bring up the solution quickly, easily and at the highest level of performance.

In the highly regulated, yet competitive, Financial Services industry, organizations need to be able to make quick and confident operational performance and customer engagement decisions. Financial Service organisations must use data effectively, establishing the right metrics, processes and reports to drive the right discussions, at the right time. Key challenges in this industry include:

  • Working amongst legacy systems
  • Embedding incremental analytics
  • Calculating capital
  • Harnessing data insights for optimal wealth management
  • Overcoming reputational risk
  • Viewing each customer accurately through collated insight
  • Achieving internal transparency
  • Optimising of delivery collaborative actions in near or real time

Kognitio knows the intricacies and issues of the financial services world

Contact us today to conduct a secure and confidential proof

Get in Touch