SYDNEY - Integrated Research, (ASX: IR - News) a supplier of systems and application management solutions for HP NonStop servers, has introduced Prognosis Transaction Surveillance for ATM and point-of-sale systems.
According to a news release, the new product seamlessly integrates with the architecture of the existing Prognosis BASE24 software suite to provide a holistic BASE24 monitoring and performance management solution.
"Prognosis Transaction Surveillance is the first product to provide real-time access to ATM and POS transaction details, including PAN (primary account number) information, with negligible impact on system resources," said Andrew Moran, Integrated Research's product manager for banking and finance applications. "It eliminates the heavy reliance on dedicated personnel, who until now have had to manually extract historical detail from transaction logs."
Using sophisticated multi-conditional pattern matching with the ability to monitor individual transactions as they happen, this new product enables a number of functions, most notably in the area of fraud detection. Fraudulent activity can be detected within seconds, allowing financial institutions to act fast and minimize their losses due to card fraud.
The product facilitates offering "extreme customer service," Moran said. Providing the example of an ATM retaining a customer's credit card, he said, "Customer service personnel now have instant access to these types of problems and can initiate customer contact immediately -- explaining why the card was taken and providing advice on how the issue can be resolved."