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New research weighs importance of systems monitoring for FIs

A new research note from Mercator demonstrates why advanced systems monitoring is essential for FIs' increasingly complex IT infrastructure.

January 13, 2015

Banking systems and channels continue to evolve as financial institutions deploy intelligent deposit ATMs and expand digital banking capabilities to include new smartphone and tablet apps and solutions.

As they pursue the goal of becoming integrated omnichannel providers, FIs can face considerable and complex challenges posed by the need to merge new functionalities with legacy IT systems and infrastructures.

In a new research note, "The Importance of Systems Monitoring in Banking," Mercator Advisory Group demonstrates why robust system monitoring is essential for modern banking systems and channels.

"These sophisticated machines and devices must be monitored in real time and with more precision than ever, or financial institutions run the risk of customer dissatisfaction because of downtime or equipment not working correctly," said Ed O'Brien, director of the Mercator banking channels advisory service and author of the research note.

Highlights of this note include:

• opportunities and challenges facing banks and credit unions as they improve and expand banking systems and channels;
• Mercator survey data on U.S. consumers' use of new customer-facing banking features and channels;
• the importance of fast, robust monitoring that can anticipate potential system issues before they occur, and offer real-time alerts and self diagnostics to help minimize downtime; and
• a review of example solutions from INETCO, NCR, and Wincor Nixdorf.

One of eight exhibits in the 14-page document: