How to tackle core banking operational challenges effectively
You’ve all endured core banking operational events like inconsistent runtimes and bottlenecks. But could you fight them? Could you make sure they would not return to haunt you? This compilation shows how our IT operation tool GAMMA enables you to tackle core banking operational challenges effectively. If you are interested in lifting your Temenos Transact operations experience to the next level, relieving your core banking team of unnecessary tasks, and gaining peace of mind in the process, read on.
Operational challenges – the essentials
- How to find the root cause of core banking operation incidents?
- How to run Transact processes and queries in an audited manner?
- How to spot and solve slow front office transaction times?
- How to make core banking operations auditable?
- How to get rid of non-recreatable errors in your core banking operation?
- How to eliminate manual errors from core banking operation?
- How to find trends and correlations in core banking operation?
- How to prevent core banking incidents from affecting the experience of bank customers?
- How to get rid of long-running jobs in COB?
- How to get the right Temenos Transact management tool?
How to find the root cause of core banking operation incidents?
Here are the rules of minimizing the risk of disruptive operational events.
- Rule 1. Always know what’s going on in your system. Monitor both the processes and the infrastructure. This enables your IT operations team to analyse any event that might pop up and get to their root cause.
- Rule 2. Know the history of your process and component performance, a.k.a. log the monitoring results as well as user interactions with the system. We cannot stress the importance of keeping IT operation logs. Sometimes IT events do not have a clear root cause in the current operational activties. Rather, you need to look at the big picture of trends and accumulated data. If you don’t have that, you don’t have a map to the root cause. Cue non-recreatable errors.
- Rule 3. Choose a product that can give you both. GAMMA is developed in close cooperation with our clients and always with an eye on Temenos developments so the tool always answers arising needs of active Transact users. This ensures its monitoring, logging, and analytical features are up-to-date and offer efficient signposts for finding the root cause of core banking operational events.
Banque Internationale à Luxembourg’s Raoul Schiltz praised GAMMA for its valuable contribution to the Bank’s monitoring lansdcape, alerting processes and UT activities.
How to run Transact processes and queries in an audited manner?
Core banking operations often require you to grant operators extensive access privileges to a range of system components. Operational challenges such as this are at odds with the best practices of IT safety, creating not only security gaps, but possibly auditing and compliance problems.
But hold on! Beyond its monitoring and automation features, GAMMA also takes this weight of your shoulders. The tool allows your team to
- run predefined Transact, TAFC/TAFJ, and OS-level commands to collect logs and information;
- run and export various Transact enquiries; and
- run preset Temenos Transact functions in an automated manner
all from the GAMMA User Interface. This means fewer manual errors and that there is no need to provide root access to the OS or Transact. Plus, every action taken is logged.
GAMMA’s built-in function for running predefined Transact commands
How to spot and solve slow front office transaction times?
Subpar digital banking experience can destroy even the most solid consumer trust. Stay on top of the game and clear up front office transaction lags with GAMMA.
Sometimes the causes behind sluggish front office transactions are foggy. And the longer time IT spends searching for the needle in the haystack, the more users will be affected by the resulting slow service. Thanks to its comprehensive real-time monitoring features, GAMMA can help you swoop down on the causes faster. Our IT operation tool reduces average incident detection time to a few minutes and analysis time to its third.*
*Developer estimates
Time from core banking incident to resolution with and without GAMMA
How to make core banking operations auditable?
Core banking operations should be auditable, not only for reasons of compliance, but also for the ease of troubleshooting events.
Making your core banking operations (and especially operator interactions) auditable will save you a lot of legwork when investigating the root cause of extraordinary events. Plus, it provides the transparency required by legislation in many places. GAMMA logs all user interactions (as well as the details of core banking processes) for your convenience. For instance, in Canada, GAMMA helped clients like FirstOntario Credit Union comply with the Interac security audit by monitoring ATM and POS transactions and alerting assigned operators in case of a failure.
User interaction log in GAMMA
How to get rid of non-recreatable errors in your core banking operation?
What happens when you can’t recreate an error to find out what exactly has caused it? Just follow these simple steps.
- Step 1. Always be aware of what’s happening in your IT system by virtue of GAMMA’s monitoring components.
- Step 2. Investigate the root causes using GAMMA’s monitoring logs and charts.
- Step 3. Use the extensive data gathered in Steps 1 and 2 to identify and to put an end to these pesky operational challenges.
How to eliminate manual errors from core banking operation?
Core banking operation is a crucial but complex and time consuming task. Simplify it. This relieves your team to make room for other valuable activities. If done well, it also eliminates human error from the process.
Performing complex core banking operation tasks requires heightened attention and rigorous checks from IT team members. Not only does this take time, but it also exposes your processes to human mistakes. Tackle this dual challenge by monitoring and automating your corer banking system using a comprehensive tool, like GAMMA. By this, you can eliminate the majority of human errors and your IT team can focus on other challenges that will keep your bank on the path of growth.
A COB process automated using GAMMA
How to find trends and correlations in core banking operation?
Have you ever been struck by a core banking incident out of the blue that could have been prevented? If only you knew of the relevant performance trends… You can hardly prepare for the Kraken, because you cannot tell when or whether it is approaching your ship. Luckily, you’re not a sailor, but a banking professional – and you have GAMMA on your side. Eliminate the operational challenges before they become problems.
GAMMA compiles insightful charts based on monitoring data. These help your team recognize unfavorable trends at a glance. Moreover, these visuals also allow them to spot correlations and dependencies in your core banking operations so you can proactively prevent incidents.
General Transact information in a GAMMA real-time chart
How to prevent core banking incidents from affecting the experience of bank customers?
Core banking incidents are diverse. Some might be simple enough to tackle. Others might be showstoppers. Some are lurking out of sight and generate cumulative financial damage overtime. But we often forget that it is not simply business continuity they affect, but also the experience of bank customers.
Make sure you can spot and tackle any issues as fast as possible. GAMMA’s real-time monitoring and analytical features are great for the peace of mind. They help operators minimize incident detection time and analysis time. This means that the resolution efforts can start sooner, before the ripples of the event reach your customers.
A comparison of incident detection times without and with GAMMA
How to get rid of long-running jobs in COB?
Long-running jobs are always a struggle. You start to wander whether you COB would finish on time – or at all. Spare yourself the trouble.
GAMMA’s COB Monitor and COB Analyser make it a child’s play to detect long-running jobs in your Close-of-Business process. Together, they provide the IT team with in-depth information about your core banking system performance that will help find the underlying issues.
GAMMA COB ANALYSER – COB comparison
For instance, DXC Technology’s Nikola Radovic praised GAMMA’s COB Analyser for providing detailed information that helped the company improve their core banking system. Check out DXC’s testimonial below:
How to get the right Temenos Transact management tool?
If you are looking for an enterprise-level tool for core banking monitoring and automation to soilve your operational challenges, look no more. Check out the following resources to see what GAMMA can do for you, or simply ask us. We are happy to answer your questions in depth or give you a custom demo.
