February 11, 2015
The payments business is increasingly being driven by information. Strategies and execution through information insights can improve profitability, optimize revenue, and cut costs.. Big Data Analytics can introduce some major applications that result in reduction in payments fraud occurrences and in building a body of knowledge from customer data points in order to structure value-added services and create opportunities for cross selling. Here are some notable startups in the payments industry optimizing their solutions through big data analytics:
Back in November 2013, BillGuard made a prominent upgrade to its platform bringing in analytics capabilities. BillGuard utilizes Big Data Analytics in conjunction with reviews/insights from thousands of users to identify harmful or potentially fraudulent transactions in a user’s ba ...