Personalise and Leverage your Data

 

The global Payments landscape is changing dramatically following the introduction of the long awaited ISO 20022 message structure for all types of payments, including low value, high value, cross border and instant payments. It is expected by 2025 most of large global currencies will be transacted using ISO 20022 standards. This message format enables the sending of much larger amounts of data compared to the various current proprietary formats, with banks now able to access more information and data - to read, understand, interpret, leverage, and monetise. However, a lot of content will likely remain unstructured and in free text format. In this respect, non-traditional competitors such as Fintechs and challenger banks benefit from not carrying the burden of legacy applications which struggle to adapt to meet the new data challenge.

The Solution
Pelican's Financial AI Hub is an advanced and component-based solution using Artificial Intelligence (AI), Natural Language Processing (NLP) and Machine Learning (ML) techniques to read, understand and analyse huge volumes of information in structured or non structured formats, and then deploying the same techniques to generate business insights on the customers, products and operations.

Leverage Your Data

 

Data is now considered the most valuable resource, and not oil! Data has enormous potential, but data context or meaning without AI and analytics is an empty promise. The value of data is only realized when you apply analytics to gather insights that can improve with time. This in turn allows banks to perform operational optimisations and monetise customer and product insights by creating new value, an enriched customer experience and enable the creation of new digital business models and revenue opportunities.

  • Monitoring: Collect customer, product, and operational data to create retrospective reports and dashboards that monitor, report and alert on what has happened.
  • Insights : Apply data science and design thinking to uncover potentially Valuable customer. product. and operational insights that predict business outcomes.
  • Optimisation: Prescriptive analytics to optimise key business and operational processes and systems to create intelligent·apps and smart products that continuously learn.
  • Monetisation: Leverage customer, product and operational insights to create new revenue opportunities by creating value and enriched personalised user experiences

Use of Artificial Intelligence & Data

Pelican Financial AI Hub offers various AI techniques-based solutions in four key areas of payments and accounts information transactions processing:

  • Data Cleansing and Normalisation.
  • Data Enrichment and Categorisation
  • Data Insights and Predictions
  • Prescriptive Actions and Recommendations

The above four pillars of financial AI Hub are complemented by other digital technologies using API and cloud platforms with an intuitive user experience, providing your customers with an agile and omnipresent solution delivering hyper-personalised products and services.

Data Insights using AI is useful for a wide variety of use cases that help drive revenue, cut cost and reduce risk, including:

  • Churn Prevention
  • Next Best Action based on inflow and outflow
  • Price Optimization
  • Customer Lifetime Value
  • Up-Selling and Cross-Selling personalised product
  • Predictive Resourcing
  • Customer Segmentation
  • Expense & income Forecasting
  • Lending Decisions

Personalisation

Pelican Analytics and Intelligence tools enables banks to provide an intelligent customer experience that is personalised and engaging. This is delivered through an omnichannel experience across desktop, mobile and voice environments!

AI enabled personalization enables banks to understand specific customer needs and to deliver relevant value and services. This deepens relationships and creates trust which in turn delivers customer engagement and loyalty.

Personalisation can be used to inform customers, guide them, advise them, and demonstrate that the bank cares about the customer.

  • Strengthens Relationships & Loyalty
  • Delivers Distinction
  • Provides a Competitive Advantage
  • Creates Trust
  • Deepens Customer Engagement

Payments Optimisations

Reduced exceptions

Combining over two decades of payments domain experience with unrivalled AI expertise, Pelican’s payments processing platform uses advanced techniques for matching free format text, improving message repair and delivering a reduction in exceptions raised.

The Pelican STP solution is able to perform intelligent, complex repairs across multiple fields in ale multiple message . Business workflows can be configured to determine the least-cost network for payment delivery or the fastest route, depending on requirements.

STP features

  • Modular STP solution, supporting any payment type at any stage of the payments life-cycle.
  • Highest STP rates using AI and Natural Language Processing (NLP) to undertake complex payment repairs.
  • Content based auto-routing, based on business objectives - lowest cost / fastest route.
  • Self-learning module - learning from operator repairs to keep STP rates continually high.

Pelican Benefits

STP Solution benefits

  • Achieve outstanding STP rates – users reporting over 98% – by leveraging AI disciplines of NLP and Machine Learning.
  • Increased revenue - product and pricing management with the ability to create, launch and maintain new products quickly with customised pricing for correspondents. Existing customers have seen $8 million new revenues in the frst 12 months.
  • Better processing efficiencies through payments enrichment and auto-routing functions, customisable to primary objectives.
  • Reduced exception review times - with comprehensive report data and single dashboard overview for exception management.

Find Out More

STP Brochures & Datasheets

Please use the Download button below to access the full library of Pelican Payments information resources for both Banks and Corporates, including datasheets covering Payments Hub, STP and Open Banking.

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