[April 28, 2015] |
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Research Highlights Increased Pressure on Payments Operations and IT Operations to Support Instant Decision Making
To examine how financial organizations are applying operational
intelligence, Axway
(Euronext :AXW.PA), a market leader in governing the flow of data, and
Finextra Research, the world's leading specialist financial technology
news and information source, today announced the results of a global
study that examined the operational intelligence maturity for payments
within financial organizations. The study
surveyed 105 decision makers in the global financial services industry
and found increased pressure on IT to support instant decision making to
enhance the customer experience, increase profitability and improve
performance.
Conducted by Finextra, the study highlighted the various banks'
priorities in their payments business, the challenges they face in their
operations and their current use of operational intelligence tools to
deliver real-time business analytics and decision support.
"As the volume and speed of digital payment transactions continue to
grow, organizations are increasingly required to do more instant
decision making," said Paul Penrose, Head of Research, Finextra
Research. "With comprehensive end-to-end monitoring of transactions and
business activity, the ability to deliver a high level of customer
satisfaction - and resulting profitability - is greatly enhanced."
In examining the key priorities for chief operating officers, strategic
planning executives and global payments managers, the study identified
customer service improvement as the top business priority (55 percent),
followed by increasing profit (26 percent) and improving performance (19
percent). The study also revealed:
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Prevalence of Immediate Payment Processing: 77 percent of
respondents stated that they process immediate payments of one kind or
another and 90 percent stated that their bank is directly connected to
a payment-processing platform.
-
Large Payment Transaction Volumes: More than half (56 percent)
of respondents are dealing with payment transaction volumes of at
least one million per day, and the same percentage has an aggregated
monthly value of transactions equivalent to $1 billion or greater.
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Prioritization of Improved Customer Service: More than half (55
percent) of respondents believe that their major business priority is to improve customer service - making this more important than
increasing profit or performance improvement.
-
Necessity for Immediate Operational Decisions: The majority of
respondents (58 percent) are expected to make immediate operational
decisions daily, while only 51 percent have actually made commitments
to how quickly they would react to customer queries.
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Desire to Reduce Operational Risk: 85 percent of respondents
cited reducing operational risk as the major strategic objective and
71 percent cited improving the customer experience as top objectives
of operational intelligence maturity.
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Growing Security Concerns: 39 percent of respondents said they
experienced up to nine significant breaches in the past year.
"Finextra's findings expose the operational challenges most financial
institutions are facing in delivering business analytics and making
decisions in real-time," said Dean Hidalgo, executive vice president,
global marketing, Axway. "Through the implementation of operational
intelligence technologies, organizations can properly govern the flow of
data across internal and external sources to embrace new digital
business models."
View the Whitepaper "Operational Intelligence and Payments Monitoring": https://www.axway.com/en/gate/1629
Register for the Finextra Research & Axway Joint Live Webcast
"Operational Excellence for Payment" on May 5th: https://www.axway.com/en/event/live-webcast-operational-excellence-payments
To learn more about Axway's products and solutions, visit: http://www.axway.com/products-solutions
Follow Axway on Twitter (News - Alert): http://twitter.com/Axway
About Axway
Axway (Euronext: AXW.PA), a market leader in governing the flow of data,
is a global software company with more than 11,000 public- and
private-sector customers in 100 countries. For more than a decade,
Axway has empowered leading organizations around the world with proven
solutions that help manage business-critical interactions through the
exchange of data flowing across the enterprise, among B2B communities,
cloud and mobile devices. Our award-winning solutions span
business-to-business integration, managed file transfer, operational
intelligence, API and identity management, and email security- offered
on premise and in the Cloud with professional and managed services. Axway
is registered in France with headquarters in the United States and
offices in 19 countries. www.axway.com
About Finextra
Finextra Research is the world's leading specialist financial technology
(fintech) news and information source. Finextra offers over 100,000
fintech news, features and TV content items to visitors to www.finextra.com.
Founded in 1999, Finextra Research covers all aspects of financial
technology innovation and operation involving banks, institutions and
vendor organisations within the wholesale and retail banking, payments
and cards sectors worldwide. Finextra's unique global community consists
of over 30,000 fintech professionals working inside banks and financial
institutions, specialist fintech application and service providers,
consulting organisations and mainstream technology providers. The
Finextra community actively participate in posting their opinions and
comments on the evolution of fintech. In addition, they contribute
information and data to Finextra surveys and reports.
www.axway.com
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