Although the core problems enterprise companies face haven’t changed, modern applications and complexities in the IT infrastructure mean they require different technical solutions and data gathering approaches. Armed with this understanding you’ll be in a better position to decide what you require.
Post Tagged with: "application performance management"
With so many business expectations evolving around the consumer experience as a focal point, why has transaction-centric application performance monitoring NOT been adopted by ALL banks?
Newer network-based solutions can be deployed in less than a day that can correlate multi-hop transactions in near real-time – without requiring agents, code changes or extra traffic loads.
Retail Systems Research (RSR) released a Fast Fact titled, “Retail Payments and the Customer Experience: Waiting for Processors”. It was taken from RSR’s first benchmark report on the retail payments process, released in March 2013.
Integrated, multi-channel retail banking is a reality – presenting increasing operational risk…and endless revenue opportunity for those retail financial institutions that are “ready”.
Key recommendations included:
* Adopt real-time transaction monitoring
* Monitor every transaction coming to and from your core banking system
* Use transaction-based monitoring and analytics to track the performance of external and internal service providers
New analytics service that monitors transaction usage, as well as performance characteristics from users, devices, and hosts, and then pushes that data via the user interface and an API.
According to TRAC’s research, 59% of CIOs surveyed stated the ability to increase the amount of IT resources that are available for investing in innovation and new services as their top strategic goal, while the third highest rated goal of CIOs was to reduce the cost of managing IT (48%).
The data also shows that implementing Application Performance Management (APM) strategies has a direct positive effect in both of these areas. For CIO’s, this means less headaches.
The New Year is always a time of setting goals, resolutions…and predictions. Here are my favorite 5 responses to the question: “What is most likely to change when it comes to monitoring banking applications and financial transaction management in 2013?”
Chief Information Officers (CIOs) are ultimately responsible for ensuring that IT investments are closely aligned with strategic business objectives. In this, the final installment in the six part series, we’ll focus on how, through transaction-based application performance monitoring, the CIO has well-defined relationships between IT performance and metrics specific to business outcomes. And that is what is ultimately needed for smooth sailing, even in the roughest seas.