SYDNEY, APRIL 20 /PRNewswire/–* The solution provides real-time insight to improve cash management, delivering actionable insights from complex transaction data patterns.
* Banks and financial institutions can benefit by providing better customer experiences and making informed, data-driven business decisions.
IR (ASX: IRI), the global leader in performance management and analytics for unified communications, collaboration, IT infrastructure and payment ecosystems, has announced the launch of its new product, Real-Time Payments, as an extension of the existing IR Transact Suite. . This will allow companies to modernize their payment processes and increase financial transparency.
The increase in cashless transactions is massive and will lead to an increased reliance on digital and real-time payments from 2020 onwards. The Covid-19 pandemic has significantly accelerated this trend, leading to the launch of real-time payment systems across the world. A 41% jump in instant payments has been seen during the pandemic. Governments around the world are driving the expansion of digital transactions.
The real-time payments product from IRs simplifies the complexities of managing real-time payments for businesses. Allows detailed tracking of payment flows and instantly monitors abnormal patterns. The solution can use analytics to proactively identify and respond to data patterns – whether it’s anticipating system slowdowns or improving service quality.
“Speed, choice and efficiency are the main benefits of fundamentally transforming the global payments ecosystem in real time. At IR, we know that monitoring and analyzing the amount of data generated can be an obstacle to digital transformation. Our real-time payments product ensures that any cases are identified Interruptions or slowdowns quickly and resolved to meet Service Level Agreements (SLAs),” says David Guiver, Head of Transaction Products, IR.” The product provides better financial management by reducing fines as much as possible and detecting emerging trends that enable better business decisions. ”
Real-time payment systems are being introduced in all countries. The compound annual growth rate (CAGR) for real-time payments is estimated at 23.6% for the period 2020-2025. IR real-time payments product helps customers ride this growth wave by ensuring the timely state of payment systems.
 Global real-time payments transactions to rise 41 percent in 2020 as COVID-19 pandemic accelerates shift to digital payments – new research unveils ACI Global | Business Wire  ACI Worldwide Research (see above)
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