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Business Intelligence and its Applications to Banking and Payments

27th March 2024

What do business intelligence solutions do? 

Statistics reveal that organisations across all industries only use around one-third of their available data for analytics purposes. Business intelligence (BI) solutions play a vital role in harnessing the potential locked in this unutilised data. They standardise, analyse, and transform raw data into reports containing valuable insights into operations, customers, and broader industry trends. 


This article explores the role of business intelligence in the banking and payments industries, how it works, its benefits, and more. 


Business intelligence in banking and payments


The capability to transform data into actionable business insight is particularly useful in the banking and payments industry, where vast volumes are produced every day. Business intelligence simplifies all of this varied data, making it easily accessible to support strategic decision-making, operational analysis, and compliance processes. 

Some common applications of business intelligence tools in the banking and payments industry include:


  • Customer value lifecycle analysis 

Business intelligence tools enable easy analysis of multiple data sets, including transaction history, engagement levels, and profitability over time. These insights allow financial institutions to segment customers, personalise services, and tailor retention strategies. 


  • Channel optimisation

The banking and payments sectors can use business intelligence to garner insights into customer interactions across multiple channels, including online banking, mobile apps, and ATMs. This data helps to inform channel optimisation and customer experience strategies. 

  • Fraud detection and prevention

Applications of business intelligence tools help to identify and mitigate fraudulent activity within the banking and payments systems. Real-time analysis of transaction data quickly spots suspicious patterns and facilitates case management, encouraging proactive measures to prevent financial loss and safeguard customer assets. 

  • Performance monitoring

Accessing real-time insights into operational performance is straightforward with a business intelligence solution. Decision-makers can delve deep into key metrics like transaction volumes, profit margins, efficiency, and customer satisfaction at a moment’s notice.


  • Risk management

Managing risk effectively is imperative in the banking and payments sectors. Advanced tools provide robust risk assessment and management capabilities, covering areas like credit, market, and operational risk. Detailed analysis of historical data and market trends means businesses can develop strategies to mitigate potential risks before they materialise. 

  • Compliance reporting

Across a range of regulatory requirements, those in the banking and payments sectors have a responsibility to make timely and accurate submissions to authorities. Successfully meeting standards requires careful data collection, analysis, and reporting. 

Business intelligence tools streamline the data management processes that feed into regulatory reporting. Through automation, they reduce the time and effort required to compile and prepare data for submissions. 

  • Product and pricing optimisation

Business intelligence is highly effective for in-depth analysis of market trends, competitor offerings, and customer preferences. It enables organisations to optimise their product portfolios and pricing strategies based on customer demand. 


  • Operational analysis

Business intelligence applications provide a detailed understanding of operational processes like transaction processing times, error rates, and resource utilisation. This allows leaders to streamline operations, reduce operating costs, and improve overall efficiency. 


Key takeaways

For organisations across the banking and payments industries, business intelligence tools have the potential to drive significant value in key areas like operational effectiveness, risk mitigation, and profitability. An increasing number of organisations recognise the importance of leveraging these solutions to stay competitive in today’s data-driven landscape. 

Business intelligence at Kani

Kani works with a range of clients across the banking and card payments industry to track and report on transactions, as well as understand how customers and products behave. Our business intelligence solutions are currently helping with: 


  • Customer insights to understand customer spending or where the most active customers are
  • Standardising data from a variety of payment processors into a common language, providing an easy comparison of volumes between different products, merchants, and geographies
  • Real-time performance monitoring on key performance indicators (KPIs), such as transaction volumes, transaction success, and revenue 
  • Compliance and regulatory reporting, generating reports on transaction data, audit trails, and other compliance metrics
  • Easy data forecasting predicting future trends and market behaviour


Reach out to our friendly team at to learn more about business intelligence at Kani.


  • What is meant by business intelligence?


Business intelligence involves the transformation of raw data into actionable insights that drive informed decision-making. It describes a variety of tools or techniques that empower organisations to leverage their data more effectively. 

  • What data security measures do business intelligence platforms have?


Business intelligence platforms implement robust financial data security measures. Some of these include role-based controls, data encryption, activity monitoring, and compliance with industry regulations such as GDPR and PCI DSS. 

  • Can business intelligence tools help to predict market trends?


Yes, these tools use advanced analytics and predictive modelling techniques to analyse historical data and forecast future trends. They predict customer preference using metrics like transaction volumes and spending patterns, providing businesses with data to inform pricing, product, and marketing strategies. 

  • How do business intelligence solutions help with compliance in banking and payments?


Although business intelligence tools are not typically designed to handle the full spectrum of regulatory requirements, they are still a valuable part of a robust compliance framework. Their automated data collection, analysis, and reporting functionalities reduce the work involved in getting the data required for submissions. 

  • What are the common challenges associated with implementing new business intelligence tools?


Common challenges during implementation initiatives include data integration issues, system compatibility, user training, and budget constraints. Overcoming these challenges requires careful planning, stakeholder engagement, and collaboration between IT and other business teams to ensure successful adoption. 

  • How do business intelligence tools encourage greater operational agility?


Applications of business intelligence are designed to evolve alongside technological advancements, incorporating innovations such as AI, machine learning, and predictive analysis. Vendors regularly update their solutions with new features, functionalities, and data sources to meet changing requirements.