Challenges facing the IT operations in the financial services industry

Time is money. This is particularly true in the financial services industry. Any delay in identifying and troubleshooting performance issues of the transaction systems could cost millions of dollars in lost revenue and not to mention damage to the financial service provider’s reputation. With microbursts of transactions, increasing transaction volumes and the growing complexity of the systems due to mounting number of new service offerings, IT operations in financial services firms are facing tremendous pressure to assure their services. Traditionally, detecting and analyzing issues of the transaction systems rely heavily on sifting through data from networks, logs, and databases. Such approaches are time-consuming, resource-draining, and often ineffective, and thus cannot meet the requirements of successful IT operations. As a result, IT departments in financial services firms urgently need a solution that offers capabilities of truly real-time monitoring and rapid isolation and troubleshooting of business transaction problems.

CrossFlow’s Business Performance Center offers the much-needed help

CrossFlow Software, a leader in network, application and business transaction performance management, provides financial services providers with an end-to-end performance management system via Business Performance Center (BPC), its flagship offering, to monitor their business transactions and optimize their services.

Based on advanced real-time protocol decode technologies, BPC uses network packets as the data source to help IT departments at financial services firms quickly establish an ease-of-use transaction performance monitoring regime. It provides five performance metrics as the core measurements that include transaction volume, success rate, response rate, response time and return code. All performance metrics can be analyzed based on key business dimensions, such as transaction types and channels.

This comprehensive platform displays the status for all network, system and application components end-to-end, tier-by-tier, and establishes accurate and in-depth business service quality views for IT operation teams.

BPC uses the network bypass monitoring technology leveraging wire data, which “prove to be the most critical source of data for availability and performance management over the next five years”, according Gartner. The non-intrusive and zero-impact nature of monitoring systems based on wire data makes it risk-free. Non-alternation to the application codes allows the deployment to be much easier and faster. The unified end-to-end, tier-by-tier view based on ubiquitous decode of variety of protocols provides the view of the entire “forest,” rather than “trees”, to identify root-cause of issues and stop finger-pointing. Getting the performance metrics and alerts near real-time enables faster and more efficient troubleshooting.

Like Google Translate, BPC supports thousands of business application and transaction protocols for the financial service industry, including vendor provided, proprietary and homegrown. CrossFlow is the only vendor with this capability in the market place today.

Another key component of BPC, which is of particular importance in a financial services transaction environment, is Service Path View Discovery (SPVD). SPVD discovers the connectivity and access relationship between application components and delivery devices and helps users quickly establish service-oriented management views. By doing so, SPVD drastically reduces the time of sorting out business logics and connections among application components from weeks to about half a day.

Specific benefits of BPC for the financial services firms

  • Ability to scrutinize the complex architecture of the centralized transaction system with ease-of-use interfaces and dashboard
  • Comprehensive visualization of rich and accurate business transaction performance metrics
  • Real-time root-cause identification and alerts to pinpoint performance issues and enable rapid problem resolution
  • Full bypass implementation that needs only wire data and thus eliminate the need to modify application codes and have no impact on the production systems
  • Open platform to facilitate integration with other commercial, open source, or homegrown systems. Since the BPC data is real-time, it meets the requirements for many business scenarios that are time sensitive. The data can be used for centralized event management system, risk management, fraud detection, BI, Big Data analytics, etc.

In Summary, CrossFlow Software’s BPC is widely deployed in financial services companies with advanced and unique capabilities to monitor a wide variety of businesses such as online banking and core banking, credit card payments and smart phone based payments. With this powerful business transaction performance monitoring and troubleshooting solution, IT operation teams at financial service firms gain real-time visibility into the performance and capacity of their transaction systems, get alerts to quickly isolate faulty components, and thus assure all the critical services perform at their optimal level.

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Single transaction latency breakdown

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