The Group will use Big Data Analytics and AI to make the most of its voluminous transactional data to better understand its customers.
Currently records more than 6 billion yearly transactions.
Fusionex, a leading data technology provider specializing in Big Data Analytics (BDA), the Internet of Things (IoT), Machine Learning, and Artificial Intelligence (AI) today announced that a leading financial services group, in an effort to enhance its e-payment business, is now utilizing Fusionex Big Data Analytics and AI as part of the group’s foray in technological solutions to gain a deeper understanding of its customers with the data at its disposal.
Fusionex Big Data Analytics is an end-to-end data management and analytics platform with the ability to analyze voluminous amounts of data at near-real-time speed to reveal trends, patterns, and hidden insights.
The client, which is one of the leading fintech groups in the region, has a vision to be the leading provider of micropayments, in line with their vision of a cashless society. The financial services group manages a massive cashless system and platform that allows its users to store currency in portable digital wallets and use them at various payment points including F&B and retail.
Fusionex International Founder and Group CEO Dato’ Seri Ivan Teh commented, “Each day, millions of transactions are performed on the client’s platform. With Fusionex Analytics and AI, they will now be able to harness the power of Big Data to manage this data tsunami. By consolidating disparate data sets, the client may develop a perceptive understanding of user behavior to craft targeted promotions, implement real-time pricing, and manage risk.”
With proper adoption and utilization of Fusionex Analytics’ capabilities, the client will also be able to detect if there are large crowds at the various payment points and accurately determine peak hour patterns at merchant outlets. Remedies for congestion such as rolling out additional payment points to high traffic areas can then be swiftly undertaken. The provided platform will help the client cope with the massive data that is flowing through its veins.
“The client is embracing this data-driven age by leveraging our offerings and using data to provide a dynamic management of information, improving convenience for the community, and modernizing the payment ecosystem as a whole,” Teh added.