Nedbank offers businesses competitive edgeby MTHULISI SIBANDA
JOHANNESBURG, (CAJ News) – NEDBANK has introduced a data analytics tool to enable its merchants and other firms, through big data, gain business intelligence and valuable insights into client behaviour.
Nedbank Market Edge, according to officials, seeks to empower Nedbank card-accepting companies to develop informed strategies on the back of their own big data, by utilising a multi-layered, user friendly dashboard that draws data from client’s card transactions.
The offering is said to be the first in the market.
Chris Wood: Head of Emerging Payments, Strategy and Regulatory at Nedbank, noted that Nedbank Market Edge had been especially designed as an innovative value added service to build on the core acceptance capabilities already provided to the bank’s card merchants through a broad range of strategic information.
“These are real benefits for businesses, allowing them the much needed time and effort to focus on growing their businesses,” he said in Johannesburg.
Market Edge provides the user with a number of tabs, ranging from transactional overviews at holding, brand or store level, to share of wallet and client loyalty information.
The tool provides businesses with geolocation information about the reach of an outlet into client markets, enabling them to analyse and determine key trends as well as the changes in their client’s behaviour over time, making it easy to develop real-time responses.
It also provides a breakdown of clients’ spend patterns, income segmentation, gender and age demographics.
The launch of Nedbank Market Edge, officials said, forms part of the bank continued focus on small, medium and large enterprises aimed at partnering with businesses for growth for a greater South Africa.
“We believe Market Edge(tm) will serve as a catalyst for businesses to build enduring relationships with their clients, stay ahead of the curve while taking their businesses to the next level,” Wood said.
Nedbank Market Edge is available to physical or online Nedbank card accepting businesses.
– CAJ News
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