At Infosys Cards and Payments, we help our clients harness the power of technology-led innovation across the entire payments ecosystem encompassing payment networks, merchant services, stored value, FI payment services, and payment aggregators. Our thought leadership and a design thinking approach helps us co-create solutions with our clients to address their business problems.

Main | January 2015 »

December 24, 2014

Wishlist offers-unicorn of digital marketing


You must have experiences of failed personalization. You search for a hotel in Boston and personalization engines take a note of it. After few days you book the hotel or cancel your Boston trip. Even after your need for a Boston hotel is over you continue to see ads of Boston hotels which do not make any sense. It is a case of bad customer experience and wastage of advertisement dollars. With the advancement of machine learning and predictive analytics we are definitely seeing much better targeting of ads. But still it is a guess and won't be 100% effective all the time.

Why don't we think of something much low tech but probably much more effective in matchmaking? It is similar to the story of an ultra-high tech pen which can write in space vs. a simple low cost pencil. I am suggesting wishlist offers.


No one knows my present needs better than me-right? Then why don't you give me (buyer) a chance to share my need? Mobile platform providers (iOS or Android) can build a mobile app for sharing my preferences to the outside world (ecosystem of digital marketers) without disclosing my personal data (e.g. name, birth date etc.). I am looking for a trip to Barcelona-I add this plan to my wishlist and voila-hotels, airlines and tour operators know my need. They can show me targeted offers. And once I am done-I just remove my entry from the wishlist. No more ads for Barcelona!


I want to buy a specific Canon DSLR-again I add the details to my wishlist (including my target price range) and go to the supermarket. Stores know that a potential buyer is nearby interested in buying the camera and start pushing me targeted offers. I like one deal and buy the DSLR. Happy you; happy, happy me!


December 22, 2014

Business Activity Monitoring: Improving Agility and Effectiveness of Next-generation Payments business

A few years ago, one of the top Australian banks had outages in its legacy payments system, causing several missed deadlines. The impact was severe - customer dissatisfaction, bad press, fines, legal claims, and of course losing leadership position in the ever-competitive banking business. The bank took days to identify the root cause and correct the problem. In an increasingly connected financial world, any such delay can cause systemic risk in the payments network and prove catastrophic for the bank's reputation.

With the ever-increasing connectivity and sophistication of IT systems, such incidents, where real-time business intelligence (BI) is not available for taking proactive measures, are increasing. To survive in a low margin (SEPA), low float (faster mass payments) environment, payments organizations are increasingly becoming dependent on automation and straight-through processing using payments service hubs (PSH). With increased dependence on IT, any system outage or process gap can increase operational risks. Hence in the ultra-competitive payments business, where banks and payments service providers need to monitor cost, time, risk, and regulatory compliance, all at the same time, real-time intelligence is becoming a key strategic advantage.

To fill this gap, next-generation business solutions are getting a lot of traction among forward-thinking organizations. They come in various avatars - business activity monitoring (BAM), complex events processing (CEP), or real-time business intelligence (RT BI). In this post, we will talk about Business Activity Monitoring (BAM). To get an overview on BAM we explore the what, why and how of it:

What: The BAM is a software which monitors, collects and presents business activities, usually in real time, to identify critical opportunities & risks in an organisation.

Why: A BAM solution is aimed at maximizing profitability and optimizing efficiency through real time monitoring.

How: It gathers data, effectively and promptly. Categorizes and identifies data points which will highlight specific concern areas and defines high-level business needs and critical areas to create data filters to make the data presentable and actionable.

On taking a closer look, we see that a BAM system relies on a seek-analyse-model-adapt approach. One of the main aims of BAM is to reduce the delay between the event and business response. At an enterprise level, however, BAM does not work alone; it works with BPM, BI, and BRM processes to complete the model-adapt-seek-analyse approach. Business rules management implements business models. The business process is adapted by BPM processes. BAM is used to actively seek and provide data and updates. This is further analysed by BI, which will use it to build models.


Fig 1: BAM Seek-Analyse-Model-Adapt Framework

BAM is an essential practical solution that every firm must have. Adopting BAM, albeit an operational decision, is meant to improve the way in which a firm or division manages finances and human resources. The possible issues in implementing BAM could be in the form of either the organisational structure of the firm not being one which facilitates effective real time monitoring or organisational behaviour biases against such a monitoring system. On another tangent, the cost and benefit of implementing a BAM solution is quite often seen as a major reason for abandonment. There are however, some best practices to overcome these. The following diagram maps the issues to the best practices for their mitigation. 


Fig 2: Mapping Best Practice Solutions to Problems

Tomorrow's winning businesses will be agile having near-real-time learning capability. BAM will be the secret sauce in that journey and organizations have already started investing in this capability. In the next few years, it will not be considered a competitive advantage but rather an absolute necessity to remain relevant.

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