Improves Customer Experience by Increasing Payment Efficiency

Explore this case study to find out how Bankers Almanac Validate API enables MoneyMatch to improve Customer Experience by Increasing Cross-Border Payment Efficiency.

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Improving Customer Experience by Increasing Cross-Border Payment Efficiency

Moneymatch case study
The COVID-19 pandemic accelerated the trend of using digital services for remittance. Consumers expect fast turnaround times and ease of usage when making money transfers. Concurrently, corporates are on the constant lookout for cost-effective solutions to process international payment transfers.
Striving to improve customer experience by providing industry leading services, MoneyMatch is leveraging LexisNexis® Bankers Almanac® Validate to increase its cross-border payment efficiency.

As MoneyMatch relentlessly working to evolve their service offerings to fit changing market needs, multiple challenges need to be overcome.
The key issues include:
  • Cleansing and enriching banking and payment routing data.
  • Periodic validation of internal databases, to safeguard payment information by ensuring it’s always
    kept up-to-date.
  • Tackling consequences of changing external factors, such as bank mergers, address changes of banks’ headquarters or significant change from a payment service provider.
  • Meeting customers’ expectation for real-time payment processing, while maintaining cost efficient services.
LexisNexis® Risk Solutions provides accurate and efficient payment data verification, which is essential when payment details such as bank code, branch code, SWIFT BIC (bank identifier code), IBAN, ACHand FedWire need to be verified or populated. LexisNexis® Bankers Almanac® Validate enables near realtime data validation in large volumes, and this accelerates MoneyMatch’s database cleanup exercise.

Explore the case study to find out how Bankers Almanac Validate API enables MoneyMatch to simplify their customers’ end-to-end payment journeys.

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