Insider Technologies
Insider Technologies

Finding a needle in a haystack is easier…

With an Insider!

Imagine it’s harvest time and the hay needs to be gathered in. The combine harvester will sweep along the field, cutting the hay and separating the target wheat from the superfluous chaff. In our world of high volume transaction processing, the wheat represents the specific transaction data and the chaff, expelled via the side chute of the harvester, is the system-related transient data that is present at the time of the ‘transaction’ (harvesting) but is normally thrown away. As the wheat is harvested (the transactions processed) Insider Technologies monitors every single stalk (transaction) and compares every attribute of its nature with the norm for this kind of hay from this kind of field at this time of day, in this weather etc. etc.

Finding a specific stalk of hay

Needle in a haystack

More than that, once the hay has been baled and left in stacks, we can locate each specific stalk of hay, based on the unique characteristics that we identified at the time of the harvesting. And we can do that for transactions that have just occurred, or at any time in the past. In a high volume transactions environment, think, for example, of a typical application such as ATM / Cash Dispenser transactions, or Point of Sale transactions, timely access to such valuable data can make the difference between efficient operation and disastrous failure.

Throwing transactions over the wall

All the ATM and POS electronic transactions are acquired by a ‘front end’ system and then sent immediately to an authorisation system operated, usually,  by the banks, retailer, or service bureaux. These authorisation systems – market leaders include products such as Base24 or Postilion from ACI, Tango from Lusis, Authentic from Alaric, Smart Vista from BPC, in-house developed, or outsourced to the system operators such as FIS (Fidelity) type systems* – all have one thing in common.

They are ALL focussed on authorising transactions, literally thousands, sometimes tens of thousands per second as quickly and as accurately as possible. Each processor, be they bank, retailer or service bureau need to ensure their systems minimise fraud, ensure adequate funds are available to be authorised, but very importantly all this processing must be done as quickly and efficiently as possible. Then? Well their focus shifts to the next and all the subsequent transactions, thousands per second. The ‘just authorised’ transaction is, in effect, ‘thrown over the wall’ into the data store which is growing rapidly second by second. That is where Insider Technologies comes in.

Insider Technologies on top of the wall

We sit ‘on top of the wall’, monitoring every transaction, without degrading the performance of the authorisation system itself. We analyse every aspect of the transaction: where it came from, what it’s for, how long it took, is it of a pattern we would expect, how many transactions are there? And so on. We analyse in near real time, process, conclude and escalate via visual dashboards, text alerts, e-mails, phone calls or alarms; anything untoward, unexpected or unusual for action by the bank’s Operations, Fraud, Risk, Social Media or Customer Relations staff. From this information we conjugate, compare, contrast, forecast, analyse, whatever and however information can be derived, calculated or modelled; we do it. From that basis of intelligence we then forecast, report, alert, notify. We identify what’s happening, what might be happening, what may happen in the future and respond accordingly.

So, where does the haystack come in?

Given the massive volume of transactions, growing by the second, relentlessly every second of every day, massive data stores (haystacks) are being built all the time. Using Insider Technologies systems and technology we migrate this data onto lower cost storage and can then access these massive data stores and locate any specific transaction, series of transactions or patterns of transactions going back to whenever the data began to be accumulated. One of our bank clients has taken the decision to migrate 10 years of full transaction data to their Sentra system, providing a ‘gold mine’ of data for their customer services, marketing, analytics, compliance and fraud departments, among others.

   

For the very fastest data retrieval … You need an Insider!

 

 

(*) Insider Technologies recognise and respect all Trade Marks and acknowledge those mentioned.