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core banking systems

How to prevent core banking systems IT failures

Observability in core banking systems is essential to keeping a retail bank’s customers online, and monitoring is the key. When a core banking system fails, the effects can be serious - compromising customer accounts and triggering risk that regulators will notice.

And regulators are treating outages harshly: Witness the UK’s TSB bank, which was fined £49 million over an IT outage in April that took almost eight months to recover from.

Moving parts

In a retail bank there are many moving parts: Physical branches with ATMs, and tellers; online apps that show a client’s balance; payment systems and electronic transactions. Each of these can have its own software systems, applications, databases, servers, networks, and more.

Interdependencies between APIs, web servers, applications, operating systems and many other pieces of IT create a complex maze of technology that lacks visibility. So what can go wrong? • Poor observability leads to a lack of understanding for the IT within a core banking system.

End-to-end visibility and understanding are critical:

• Multiple tools and gaps make it difficult to monitor everything in a single-pane-of-glass view.

• Lack of a tailored solution means banks are using monitoring tools that are not specifically designed for core banking systems.

Only through monitoring via customized core banking systems tools can banks gain a real-time understanding of the health and performance of their core banking system can fix the causes, and fix the causes of any issues before they have an effect on clients.

Purpose-built core banking systems monitoring

Using a combination of transaction data, artificial tracing and synthetic user step-through latency monitoring, ITRS Geneos offers a real-time solution that is unavailable from competitors. It provides end-to-end visibility and understanding of what impacts the performance of core banking systems - from banking services to APIs and their end users’ experience.

Data transaction monitoring embedded into the solution directly compliments the core banking system’s underlying framework. To learn more about core banking systems monitoring and our solution, please download the eBook, The Core Banking Systems guide to monitoring.

Read the eBook here