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Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

1. Analyse the digital channel to be monetised
   • Evaluate the opportunities for paid, owned or earned customer engagement
   • Audit prior experience with channel monetary transactions
   • Identify barriers to streamlined transactions
   • Prepare key observable and measurable criterion for successful channel monetisation
   • Recognise and incorporate financial service requirements within current legislation, regulation and organisational policy
2. Create design interventions
   • Prepare reliable digital processes that develop customer trust
   • Define the features and applications required to enable transactions
   • Specify authentication and security requirements to secure transactions
   • Model the digital customer engagement to select points-of-sale and closure
3. Select and implement tools and technologies
   • Negotiate with financial institutions to establish effective processing parameters
   • Evaluate and select payment processing tools and technologies
   • Determine reliable systems for the collection and analysis of transaction data
   • Ensure tools, technologies and applications are tested and activated within identified performance parameters
4. Monitor and evaluate performance
   • Regularly review performance with a financial analytics service
   • Track transaction metrics using suitable technologies
   • Monitor and identify gaps in performance against requirements and adjust as necessary
   • Evaluate and report on monetisation effectiveness

Performance Evidence

Evidence of the ability to:

analyse a digital engagement channel and identify the opportunities to monitise transaction

prepare success criteria for monetised transactions

prepare a model of customer engagement showing preferred points-of-sale and closure

describe how digital authentication and security works to develop customer trust

negotiate service agreements

identify trends and performance information from transaction data.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

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Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

explain the differences between paid, owned and earned customer engagement

compare the engagement features of common digital financial transaction systems

list current payment processing tools and technologies used in digital transactions

identify the relevant aspects of financial services legislation that impact on digital financial transactions.

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