News

North Shore Credit Union signs with INETCO for transaction management software

March 30, 2010

INETCO Systems Ltd. today announced that North Shore Credit Union has purchased INETCO Insight as part of the financial institution's strategy to host its own banking platform.

According to a news release from INETCO, North Shore, which is interested in moving away from a completely outsourced model, recently implemented the TEMENOS T24 banking solution. While the credit union relies on vendor partnerships to manage its payment and network data center, as well as switch technology maintenance, it is accountable for the overall seamless functionality and compatibility of all its components.

With the deployment of INETCO Insight, North Shore has been able to:

Guarantee a risk-free migration to a new banking platform
Gain visibility into the performance of partners responsible for various components of the ATM and POS payment transaction channels
Establish real-time alerts to quickly meet regulatory compliance for POS, ATM and debit card transaction fraud prevention

"We couldn't have migrated to our new banking platform unless we could prove we were able to manage the operational and service disruption risks associated with new technology rollouts," said Fred Cook, chief information officer of North Shore. "INETCO Insight gave us the quickest and most lightweight solution to real-time transaction monitoring. The INETCO tool has had a positive impact on our strategy. We are already expanding its capabilities into our other online channels."

INETCO Insight's multilink transaction assembly gives North Shore visibility into end-to-end payment transaction paths, making it easy to oversee the performance of all North Shore partnerships and new technology components.

North Shore also uses INETCO Insight to configure real-time alerts tied to ISO transaction response codes associated with fraud, a requirement to comply with fraud prevention regulations. With the software's ability to capture, correlate and report on granular transaction details for every payment transaction, North Shore can set up advanced queries for speedy forensic investigation into transaction anomalies.