News

New Inetco Analytics application mines ATM transaction big data

A new software application for customer analytics provides on-demand access to consumer experience, use and profitability data, the company says.

January 16, 2015

Inetco Systems Ltd., a provider of transaction monitoring and customer analytics software for the banking and payment processing industries, has launched Inetco Analytics for self-service devices.

According to a press release, the new application allows ATM deployers — including banks, IADs and payment processors — to leverage their electronic transaction data to better understand how customers interact with ATMs and other devices in point-of-sale, mobile banking, Internet banking and branch banking environments.

Inetco President and CEO Bijan Sanii issued a statement about the new release:

Transaction data is a gold mine for financial institutions concerned about the end customer experience. But gaining access and making sense of this rich data source can be costly and time consuming. Inetco Analytics provides easy, one-stop access to consumer transaction data and blends it with complementary third-party data such as maps, competitor ATM locations, and card BIN ranges. The result: the ability to know — not guess — how consumers interact with all your digital banking channels, down to a 'by-device' level.

The Inetco Analytics software application will be sold with reports and dashboards customized for ATM, POS, mobile banking, Internet banking and branch channels. With a few clicks, ATM channel managers and data analysts can see who is using which device, what types of transactions they perform, and the quality of service they experience, the release said. 

According to Bob Meara, senior analyst with Celent's banking practice:

Sixty-two percent of financial institutions in a recent Celent survey strongly believe that customer analytics offers significant competitive advantages, and 53 percent strongly feel they need a granular, holistic and forward-looking view of customers to be competitive. One key to understanding customers and improving banking channel efficiencies lies in making rich transaction data accessible for actionable customer analytics. Top 2015 retail banking priorities — specifically, using self-service channels to drive high value branch traffic, optimizing channel effectiveness, and learning how to sell and service through digital channels — all require a deeper understanding of where, when, and how customers interact with a bank's various self-service channels.

Watch a three-minute demo of Inetco Analytics for ATM: