Celonis and Process Mining's Role in Transforming Payments

April 30th 2024
Zeb Khan
Practice Lead - Process Intelligence || Intelligent Automation Manager


The payments industry is a whirlwind of constant innovation. Companies race to deliver frictionless, secure, and speedy transactions. Yet, traditional methods for optimizing these processes often fall short. They lack the granularity needed to expose hidden inefficiencies and potential compliance gaps. This is where process mining shines. It leverages transactional system data to uncover the hidden realities of payment flows, empowering companies to reach peak performance.

Ciklum has partnered with Celonis, pioneers of the Execution Management System (EMS), leveraging cutting-edge technology to intelligently Find, Frame, and Fix bottlenecks in your payments processes.

Common Payment Processing Challenges:

  • Friction in the payment journey: Delays, errors, and manual interventions can lead to frustration for both customers and merchants, impacting overall satisfaction and NPS.

  • Fraudulent activity: Identifying and mitigating fraudulent transactions in real-time is crucial to mitigate the risks associated with chargebacks, reputational damage, and customer confidence.

  • Regulatory compliance: Navigating the ever-evolving landscape of payments regulation is challenging, and disparate manual processes increase the risk of non-compliance.

  • Operationalising AI: Ensuring your data is modeled with your process context in mind. Allowing it to be utilized by any AI solutions with measurable impact against key performance indicators.

Celonis to the Rescue:


Celonis process mining analyzes the vast amount of data generated through the payments journey, offering a clear picture of how transactions actually flow. This data can then be used to:

  • Identify bottlenecks: Pinpoint specific steps within the payments process that are causing delays and hindering overall efficiency.

  • Predict and prevent fraud: Analyze historical data to identify patterns and predict potentially fraudulent activities, allowing for proactive fraud prevention measures.

  • Ensure compliance: Analyze processes against regulatory requirements to identify gaps and implement controls to ensure ongoing compliance.

  • Optimize customer experience: Gain insights into customer behavior and preferences to streamline the payment journey and increase customer satisfaction.

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Transforming Specific Payment Processes:

1_Onboarding Onboarding:

  • Focus: Reduce time and effort required to onboard new customers and merchants.

  • Celonis benefit: Streamline KYC and Customer Due Diligence, identify delays in document verification, and automate routine tasks.

2_Payments Processing Payments Processing:

  • Focus: Increase speed and accuracy of transaction processing.

  • Celonis benefit: Identify bottlenecks in clearing and settlement processes, optimize routing rules, and automate manual tasks.

3_fraud detection Fraud Detection and Prevention:

  • Focus: Proactively identify and prevent fraudulent transactions.

  • Celonis benefit: Analyze historical data to identify patterns associated with fraudulent activity, develop predictive models, and implement real-time monitoring.

4_Compliance Managemen Compliance Management:

  • Focus: Ensure adherence to evolving regulatory requirements.

  • Celonis benefit: Analyze processes against regulatory mandates, identify gaps, and implement controls to achieve and maintain compliance.

5_Dispute Resolution Dispute Resolution:

  • Focus: Resolve disputes efficiently and minimize customer churn.

  • Celonis benefit: Analyze the root cause of disputes, identify trends, and streamline the resolution process for faster resolution times.

By leveraging Celonis process mining, payments companies can gain deeper insights into their operations, identify hidden inefficiencies and potential risks, and implement targeted improvements across various processes. This can lead to faster and more efficient transactions, enhanced fraud prevention, improved regulatory compliance, and ultimately, a strong competitive edge in the ever-evolving payments landscape. By combining data-driven insights with Ciklum’s proven expertise, payments companies can embark on a journey of continuous improvement, propelling themselves towards a future of operational excellence and customer satisfaction.

Celonis Process Mining significantly boosts manufacturing efficiency by providing deep insights into production processes. By analyzing the vast amounts of data generated in manufacturing workflows, Celonis identifies bottlenecks and inefficiencies, enabling companies to streamline operations and increase productivity. For a deeper dive into how Celonis transforms manufacturing, check out our detailed analysis in our blog on 5 Ways Celonis Process Mining Boosts Manufacturing Efficiency

Learn more about our use cases here 

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