# How payment institutions can leverage data to support merchant customers
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-09-27
Category: FINANCE
Category URL: https://financedigest.com/category/finance
Meta Title: Unlocking the Power of Real-Time Data for Cross-Border
Meta Description: Discover how real time analytics and customer behaviour insights are revolutionising the cross-border payments industry. Stay ahead of fraud and market trends.
URL: https://financedigest.com/how-payment-institutions-can-leverage-data-to-support-merchant-customershtml

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_By_ **_Sophie Flynn_** _, CFO of_ [_Nucleus365_](https://www.nucleus365.com/) _, a UK-based payments institution offering a centralised platform for global payment processing, FX and connected banking_

The volume and efficiency of cross-border payments have increased considerably over the past decade. Figures from Statista show that, in 2018, $124 trillion US dollars in cross-border payments were made. In 2022, that had risen to $150.7 trillion. Based on these transaction figures, it is projected that the volume of [cross-border payments](https://www.financedigest.com/why-blockchain-could-represent-the-future-of-cross-border-payments.html "Why blockchain could represent the future of cross-border payments") will continue to rise annually.

There are several reasons for the [industry’s impressive growth](https://www.financedigest.com/cone-crusher-markets-advanced-research-growth-opportunities-in-global-industry-by-2030-edited-by-leading-research-firm.html "Cone Crusher Market’s advanced Research & Growth Opportunities in Global Industry by 2030 Edited by Leading Research Firm"). [Innovation in technology](https://www.financedigest.com/innovative-apps-to-foster-the-growth-of-gene-editing-technologies-market.html "Innovative apps to foster the growth of Gene Editing Technologies Market") has made transactions easier and quicker to complete. Such innovation has been led by a new wave of [payment institutions who are exploring](https://www.financedigest.com/crown-agents-bank-owner-explores-sale-of-british-payments-group-sources.html "Crown Agents Bank owner explores sale of British payments group –sources") how technology can be deployed to speed up and simplify transactions. Combine this with a merchant [customer base that has a collective desire to invest in the latest payments](https://www.financedigest.com/stay-ahead-of-the-curve-and-meet-your-customers-payments-needs.html "STAY AHEAD OF THE CURVE AND MEET YOUR CUSTOMERS PAYMENTS NEEDS") technology, and the sector is booming.

This innovation, however, could not have [come without the crucial data](https://www.financedigest.com/real-time-connect-nyc-where-adtech-leaders-come-together-to-redefine-data-strategies.html "Real-Time Connect (NYC): Where AdTech leaders come together to redefine data strategies") that underpins every transaction. Regardless of sector, any company [challenge can be addressed through the effective leveraging of data](https://www.financedigest.com/the-challenge-of-keeping-data-secure-why-in-house-security-isnt-enough.html "The challenge of keeping data secure: why in-house security isn’t enough"). It is arguably the backbone of everything we do in business. And for the ongoing [facilitation of effective cross-border payments](https://www.financedigest.com/enter-the-next-generation-of-payment-facilitators.html "Enter the next generation of payment facilitators "), data is critical.

**[Real time](https://www.financedigest.com/its-time-for-real-time-accountancy.html "It’s time for real time accountancy ") analytics**

Adaptability is key in any business, particularly for merchants in emerging markets, and having access to real time [data and analytics means payments businesses](https://www.financedigest.com/how-can-financial-institutions-make-the-most-of-data-for-their-business.html "HOW CAN FINANCIAL INSTITUTIONS MAKE THE MOST OF DATA FOR THEIR BUSINESS?   ") and their merchants can be agile when needed. Where this is particularly beneficial is in the [detection of fraud](https://www.financedigest.com/the-clues-to-detecting-fraud-are-hidden-in-relationships.html "THE CLUES TO DETECTING FRAUD ARE HIDDEN IN RELATIONSHIPS").

The [digital payment](https://www.financedigest.com/can-i-please-speak-to-someone-why-building-relationships-is-still-crucial-in-digital-payments.html "“Can I please speak to someone?” Why building relationships is still crucial in digital payments") model and the large volumes of cross-border payments being made hourly means there are multiple channels and parties involved in a single transaction, increasing the risk of fraud. In fact, the [e-commerce industry loses almost £17.5 billion as a result of fraud](https://www.financedigest.com/types-of-fraud-in-e-commerce.html "TYPES OF FRAUD IN E-COMMERCE") every year.

Having access to real time analytics means [payment institutions can better support their merchant partners by monitoring customer](https://www.financedigest.com/2019-year-customers-take-control-payments.html "2019: The year customers take control of payments") activity as it happens and identify and investigate any suspicious activity before any financial loss is incurred.

**Customer behavior**

Similarly, this real time [data can shape merchants’ entire business](https://www.financedigest.com/5-simple-ways-to-prevent-a-data-breach-from-putting-your-accountancy-practice-out-of-business.html "5 Simple ways to prevent a data breach from putting your accountancy practice out of business") strategies. The ability to provide retailers with unparalleled insight into consumer behavior and sales trends in real time allows merchants to make short term changes to capitalise on daily spending trends, while shaping long-term sales strategies.

This granular [insight is key for forecasting](https://www.financedigest.com/neurostimulation-market-insights-and-forecast-by-2032.html "Neurostimulation Market Insights and Forecast by 2032") too. As a [payment institutions and merchants’ partnership grows](https://www.financedigest.com/real-time-payments-growing-obsolescence-cash.html "Real-Time Payments and The Growing Obsolescence of Cash"), so too does the volume of historic data that has been accumulated. This allows payments organisations to support and guide their merchants during times of predicted peaks and troughs in demand, to ensure [retailers are prepared to capitalise on market opportunities](https://www.financedigest.com/uk-retail-banks-is-irrelevance-curtailing-opportunity.html "UK Retail Banks: Is Irrelevance Curtailing Opportunity?").

**Easy to understand interface**

The amount of data [payments providers and merchants collect](https://www.financedigest.com/the-future-of-digital-payments-and-collections-16.html "The Future of Digital Payments and Collections 16") is a blessing, but it can also be a curse if it’s not usable or presented in an easily digestible way. Having a real [time dashboard with a simple interface means](https://www.financedigest.com/the-pandemic-means-that-its-time-to-double-down-on-our-commitment-wellbeing-and-employee-engagement.html "The pandemic means that it’s time to double down on our commitment wellbeing and employee engagement") merchants can quickly view payment volumes, transaction activity, account information and more with just a few clicks. Without this ability, a [business will struggle to be truly agile when responding](https://www.financedigest.com/pitiless-machines-will-kill-your-business-if-you-dont-respond-now-warns-servion.html "‘Pitiless machines’ will kill your business if you don’t respond now, warns Servion") to market conditions.

**A** [dedicated service](https://www.financedigest.com/sequant-capital-partners-with-hitbtc-to-launch-a-dedicated-service-for-professional-cryptocurrency-traders.html "Sequant Capital partners with HitBTC to launch a dedicated service for professional cryptocurrency traders")

Data is core to Nucleus365. As an Authorised Payment Institution, our goal has always been to support the growth of our merchants which is why we [offer them access to data](https://www.financedigest.com/aon-data-empowers-unica-to-offer-flood-insurance-for-5-2bn-canadian-peril.html "Aon data empowers Unica to offer flood insurance for .2bn Canadian peril") acquired through our platform. In addition, however, we provide a deep [data analysis service to provide the additional insight needed for merchants to make important decisions](https://www.financedigest.com/wage-data-dents-dollar-recovery-before-fed-rate-decision.html "Wage data dents dollar recovery before Fed rate decision").

In today’s world, leveraging data is the [key to any successful](https://www.financedigest.com/hiring-smart-is-the-key-to-success-for-entrepreneurs-heres-how-you-do-it.html "“Hiring Smart” is the key to success for entrepreneurs. Here’s how you do it.") business. The payment institutions who allow their merchant [customers to collect and utilise this data](https://www.financedigest.com/should-insurers-buy-data-direct-from-their-customers.html "Should insurers buy data direct from their customers?") most effectively will be the ones responsible for the next iteration of exciting new innovations in the payments space.


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