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Nedbank manages rapid growth with transaction performance monitoring

January 14, 2014

Having grown by more than two million individual and small business clients over the last two years, South Africa's Nedbank recognized that, in the face of growing transaction complexity within the ATM and POS channels, the bank had to improve operational efficiency to control costs and maintain high customer satisfaction.

Today, INETCO Systems Ltd., a provider of transaction monitoring and analytics software, announced that Nedbank — one of South Africa's four largest banking groups with a customer base of 6 million — has licensed the INETCO Insight business transaction management solution to achieve its operational and customer service goals.

"Nedbank is experiencing a period of explosive growth and is investing in modernizing our banking architectures and processing systems," said Jason De Swardt, head of the new payment services hub at Nedbank. "As our banking IT infrastructure grows, so does the complexity of monitoring transactions. INETCO Insight is envisioned to be our not-so-secret weapon when it comes to real-time transaction slowdown troubleshooting, improving problem isolation times by up to 75 percent — which helps us manage costs, and, more importantly, maintain the high level of service that our customers have come to expect."

Given a complex environment consisting of multiple switches, servers, and third-party backends (such as Visa and Bankserv), Nedbank needed end-to-end transaction visibility into every transaction within its network to ensure that slowdowns were quickly addressed and failures averted.

"The African banking market is rapidly growing, both in client numbers, as well as in the number of channels that banks use to interact with these clients," said Bijan Sanii, president and CEO of INETCO. "For growing financial institutions, like Nedbank, INETCO Insight is the ideal tool to monitor transactions as they rapidly move through mobile banking apps, point-of-sale terminals and ATMs. Using [INETCO] Insight, network and server problems that would take several labor hours to isolate can be found in minutes."

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