How Elastic can help banks compete in the booming payments industry

The payments industry has undergone significant transformation over the past decade, with traditional payment methods still dominant but facing increasing competition from new digital apps and startups, which are reshaping global transaction flows. Despite fintech providers leading innovation in this space, banks remain vital as payments contribute significantly to their profits, and transactions provide valuable data for personalizing customer experiences. To stay competitive, banks need to enhance their real-time search capabilities, streamline IT processes, and leverage their data advantage to improve fraud detection. Elastic offers search-powered solutions to help banks navigate these challenges and capitalize on opportunities in the evolving payments landscape.