Digital payments transaction value is growing exponentially and is expected to climb to US$5.6 trillion in Asia by 2025. For companies that use digital payments, user experience, straight-through processing rates and operational efficiency have become primary concerns. Although companies such as banks, payment service providers and corporations are advancing their digital payments strategies, a significant number of transactions continue to fail. The True Cost of Failed Payments A failed payment is rejected by a beneficiary bank or an intermediary bank in the payment flow and can fail for several reasons, including inaccurate or incomplete information, data entry mistakes due to…
Author: Dalbir Sahota, Head of Bankers Almanac Payments and KYC at LexisNexis® Risk Solutions
Author
Dalbir Sahota, Head of Bankers Almanac Payments and KYC at LexisNexis® Risk Solutions
Dalbir Sahota has over 15 years’ experience working in investment banking operations transformation covering the domains of client data, foreign exchange services, derivatives middle office and KYC/CLM. Dalbir is currently Senior Director of Product Management - Bankers Almanac Payments & FC KYC at LexisNexis Risk Solutions. Instrumental in the delivery of new and existing products that help organizations detect and understand the regulatory and reputational risk of doing business with customers and counterparties.
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