Empowering Mobile & Online Banking Initiatives, Today’s Customers

Enhance Customer-facing Technology with Quality Network Performance

Customers Want to Bank Anytime, Anywhere

Today’s customers are expecting more from their financial services—they want to be able to bank and make payments wherever, whenever. In order to accomplish this, many financial institutions are adopting online and mobile banking and replacing traditional teller interactions. Thus, the pressure is on for banks to adopt the most sophisticated technology throughout their physical branches, as well as online. The introduction of these new technologies also raise concerns for IT management, who now need to worry about the dangers of an inefficient network.

In this eBrief, you’ll get a complete walkthrough on what you can do to tackle these challenges. Find out:

• What role the network plays and how it may impact mobile and online banking initiatives
• Why it’s critical to enhance your network performance
• How to effectively prioritize customer-sensitive data, and improve quality of transmission between branch office and HQ

CIOs are feeling pressured to keep up with the level of service that consumers are demanding.

Due to slow network performance, banking transactions are not successful, impacting the customer experience.

78% of CIOs are maximizing their IT department’s mobile and online banking responsibilities.

To meet consumer expectations (and stay ahead of competitors), CIOs must make customer-facing technology a top priority.

Mobile and online banking is affected by one significant variable: the network. In order for your financial institution to keep up with the advancements of customer-facing technology, like mobile and online banking, your network must be running at optimal performance. More importantly, to satisfy customers and users, banking transactions must be quick and successful. A high performing network ensures that customer-critical data reaches it’s proper destination.

For these reasons, it’s essential that your IT teams have what they need to achieve the business outcomes you desire.

1. Data Capacity and Application Growth
   PROBLEM: Massive amounts of customer-sensitive data running on the network can cause data capacity and connectivity challenges.
   USER IMPACT: Unmonitored/managed data, impeded scalability, network traffic congestion, delays, and dissatisfied IT and end-users
2. Online Speed & performance
   PROBLEM: Legacy networks may not have enough bandwidth or capabilities to support new mobile and online banking initiatives.
   USER IMPACT: Slowdowns, long wait-times, lack of productivity internally and externally with customers who utilize your mobile and online banking services.
3. Customer Satisfaction
   PROBLEM: Customers expectations are growing as banking services and technology get more sophisticated over time.
   USER IMPACT: To keep up, your IT departments need to be equipped with more advanced resources, in order to satisfy end-users and customers and deliver 24/7 services.

When your network is operating efficiently, here are just a few benefits that your financial institution will achieve:

• Enhance customer-centric strategies
  With better IT network visualization, you’ll be able to put business-critical traffic first, ahead of recreational, to support your customer outcomes
• Improve employee, customer & user productivity
  Without network downtime or delays, customer-sensitive data can safely travel across the network
• Keep customers satisfied
  Having thorough data management and analyzation, your IT teams can quickly detect network issues and solve them before users start complaining
• Quickly achieve profitable growth
  When your network runs smoothly, so does your mobile and online banking and big data, enabling you to maximize customer loyalty and profit

Network Performance Management

Network performance management (NPM) is a solution that your IT teams can use to ensure that network problems are monitored and controlled—ultimately restoring your network back to optimal performance level. In addition, your IT teams have access to internal metrics and have the capabilities to review, analyze, maintain and manage performance from a user perspective.

Improving your financial institution’s network performance involves three essential capabilities. With these capabilities your IT teams will not only be able to defeat mobile and online banking challenges, improve overall customer experience, but will also be able to:

• Visualize
  Visualize your entire network from end-to-end and rapidly identify any network issues that occur—the faster you can detect problems, the faster you’ll be able to enhance the user experience.
• Analyze
  Analyze network performance and secure customer-sensitive data traveling across the network from physical branch locations, in addition to mobile and online banking—the deeper you can analyze, the more you’ll get to know what issues your users and customers are experiencing on the network.
• Control
  Control network performance, manage data and web-based applications—so your IT teams never question data quality or the network quality—and consistently ensure great application experience for your customers, who are making payments or transferring security-sensitive data.

Cloud Performance Monitoring

Cloud Performance Monitoring (CPM) is a solution that can help your IT teams monitor and manage cloud or Software-as-Service (SaaS) based applications that are out of your private network and in the public network. Roughly half of enterprises have already migrated 20%-30% of their application workloads to the cloud—and this push will continue according to EMA research. For these reasons, your IT teams must be prepared to manage them and maintain user experience performance levels.

Incorporating Cloud Performance Monitoring into your financial institution’s network agenda ensures you can:

• Track and monitor mobile and online banking and other finance applications that would normally be unmanageable in the public network
• See what users are experiencing and resolve issues before they occur again
• Keep customers and users satisfied, always returning to your institution for financial needs

How well you manage network performance affects the quality of mobile and online banking, in addition to, the quality of your data and analytics. In order to achieve your customer-centric future initiatives and goals, adopting sophisticated technology such as network performance management is where you can start.

LiveAction provides comprehensive and effective solutions to today’s real IT challenges, specifically in the area of application performance.

Check out how these additional capabilities can benefit your financial institution:

• Quality of Service Configuration
• Application Performance Troubleshooting
• Capacity Planning