A Guide to Transaction Data Sharing Options for Open Banking and Digital Transformation

Digital transformation, Open Banking service models and game changing payments regulations such as PSD2 are continuing to gain momentum. Although disruptive, these trends are opening the doors to more payment options and more personalized applications that can help you meet growing customer demands for real-time, seamless payments and self-service experiences.

Your success (and survival) in this new financial services ecosystem will be largely defined by your ability to share customer data – not only internally, but to partners and third party systems that require it. This is why open data access is becoming a fundamental building block within payments and digital banking transformation strategies.

Customer transaction data can be collected and shared through a variety of mechanisms. At INETCO, we help banks make this data easily available to any application or organizational team who needs it.

A full menu of data access options make real-time and historical transaction data collected by INETCO Insight workable for operational performance monitoring, customer insights, and fraud detection. The following data access options will help you, your partners and your third party integrators utilize transaction intelligence within a variety of systems and processes:

A chart stating INETCO Insight's data access options for open banking and digital transformation, how they work, and their corresponding use cases.

This guide presents a robust menu of data collection and data integration options that make customer transaction intelligence easily accessible for a wide range of teams and systems, including channel management, analytics, IT performance, cash management, or fraud management platforms. With fast and effective data collection and connectivity, operations teams and business leaders can utilize rich transaction data to make more informed decisions, and identify new ways to lower the cost to serve, improve customer engagement, and reduce the risk of fraud.

If you would like to read the entire guide, you can download it here. Of course, if you have any questions, please do not hesitate to reach out to us at sales@inetco.com.

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