Nedbank Chooses INETCO Insight for Payment Platform Transaction Monitoring
Rapidly growing South African bank leverages INETCO Insight(R)
business transaction management software to manage growing complexity
in payments services and banking systems architecture
JOHANNESBURG, SOUTH AFRICA -- (Marketwired) -- 01/14/14 -- INETCO(R)
Systems Limited, a leading provider of transaction monitoring and
analytics software, announced that Nedbank, one of South Africa's
largest banks, has licensed the INETCO Insight business transaction
management (BTM) solution. Having grown by over two million
individual and small business clients over the last two years,
Nedbank chose INETCO Insight to improve the bank's operational
efficiency and maintain high customer experience levels in the face
of growing transaction performance complexities within their ATM and
point-of-sale (POS) service channels.
"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 Nedbank's new Payment
Services Hub. "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% - which helps us manage costs, and, more importantly, maintain
the high level of service that our customers have come to expect."
With every new customer comes a significant increase in banking
transaction volumes. Given its remarkable growth, Nedbank realized
that investment needed to be made in monitoring capabilities to
ensure that any transaction slowdowns or failures could be found
before they affected ATM end-customers or merchants using Nedbank
point-of-sale (POS) services. With a complex environment consisting
of multiple switches, servers, and third-party back ends (such as
Visa and Bankserv), Nedbank needed a solution that could provide the
end-to-end transaction visibility into every transaction within its
network to ensure that slowdowns were quickly addressed and failures
averted. Nedbank recognized the need for business transaction
management (BTM) - and identified INETCO Insight as the solution that
would allow them to keep their customers happy by ensuring that
service delivery levels were kept high while monitoring and
troubleshooting costs were kept low.
"With Nedbank's recent migration to a new payments platform came the
need to adequately trace a transaction from end to end," said Deon
van Biljon, Managing Director of Stanchion Payment Solutions.
"Stanchion understood this need, and knew that the INETCO Insight
software would be the ideal transaction tracing tool to improve a
problem's isolation times, with the knock-on effect of resolving
customer queries faster, specifically from a technical perspective.
Stanchion is a proud INETCO partner, and advocate of the INETCO
Insight brand in the African market."
"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 labour hours to isolate can be found in minutes: a result
that will allow Nedbank to maintain its high level of customer
service while taking advantage of operational efficiencies and cost
Nedbank Group Ltd is a bank holding company and one of the four
largest banking groups in SA measured by assets, with a strong
deposit franchise and over six million clients.
Our principal banking subsidiary is Nedbank Ltd. Our ordinary shares
have been listed on JSE Ltd since 1969 and on the Namibian Stock
Exchange since 2007 and we have a market capitalization of R95,4bn at
31 December 2012. Old Mutual plc is the majority shareholder, owning
52% of the group.
INETCO Systems Limited provides business transaction management
solutions to banking operations and support teams that are looking
for a faster, non-invasive way to identify application and
infrastructure bottlenecks and ensure optimal service and business
process delivery within their production environments. INETCO's
solutions are currently deployed in over 50 different countries.
Happy INETCO Insight(R) partners and customers include a variety of
global companies spanning the banking, ATM, retail, healthcare,
travel, telecommunications and payment processing markets.
For more information: Read the INETCO Blog
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INETCO and INETCO Insight are trademarks or registered trademarks of
INETCO Systems Ltd. All other trademarks are the property of their
INETCO Systems Limited
McCann Public Relations - for Nedbank
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