In today’s competitive environment, account holder transaction data may be a financial institution’s (FI’s) greatest asset. From enabling marketing automation to providing competitive insights, more companies are realizing the benefits of merchant payment cleansing solutions and the true value of the data they already have in-house. However, transmitting large volumes of data for cleansing can increase risk and cost, and slow down the practical application of the insights generated. An intriguing alternative is to use a data cloud platform to execute merchant payment cleansing solutions, allowing FIs to react faster and provide better security for sensitive account holder data.
Here’s how the data cloud can bring enhanced speed, scale and security to financial institutions.