With millions of business customers using digital banking solutions, expanding that environment towards business intelligence is highly profitable. The ICESTAT framework links banks together by intercepting business transaction streams and processing the data to isolate sales information and generate accurate, daily market share metrics. The framework enables business customers to access these metrics simply by logging into their online bank.
For every 1,000 business customers, a bank that integrates the ICESTAT framework can generate an additional revenue of $120,000 per year. That covers the wage of an employee paid $8,000 per month and leaves a $24,000 surplus. With 5,500 active banks in the United States servicing 6 million businesses and 6,200 active banks in Europe servicing 25 million businesses, the overall earnings potential is close to $4 billion per year in these two regions alone.
Integration takes 2 weeks with complete localization and interconnectivity to other participating banks worldwide. The integration process includes setting up a dedicated ICESTAT server within each bank that intercepts, cleans and aggregates transaction data from business bank accounts before sending the aggregated results to the external ICESTAT interbank aggregation server. These results are then made available within online banking environments.
No identifiable data is transmitted to the ICESTAT interbank aggregation server, ensuring compliance with the strictest data protection and privacy regulations. To prevent a business from inferring competitor performance, no data is processed or sent to the ICESTAT interbank aggregation server unless data from 5 comparable businesses within the same region is available. Dedicated in-house servers are maintained exclusively by ICESTAT certified bank personnel.