Type of organisations and their count
Types of organisations chart
Enriched user experience
- Personalising payments experience
- Individual end user benefits – Bill splitting and paying to a sole trader with pertinent information included
- Enhanced data analytics resulting in better customer propositions
- Improved customer/merchant interactions
- Enhanced data included with Request to Pay.
- Organisational end user invoice reconciliation, account payables and account receivables reconciliation
- Payments reconciliation
- Reduced manual effort.
Preventing and reducing financial crime
- Additional inputs to the suspicious activity report for suspicious transactions
- Enhanced fraud monitoring and analytics
- Geo-location, purpose codes and other indicators could be captured along with the payment to reduce fraud.
- Payroll and billing link with Enterprise Resource Planning systems
- Tax processing automation
- Linking payment flow to block chain.
- To enable provision of intelligent supportive accounts
- Enabling switching / portability in other sectors, for example Energy and Pensions.