Business Service Observability
 
Business Service Observability for the Banking and Finance Industry

What is Business Service Observability and why does it matter for the Banking and Finance Industry?

Banking and financial enterprises play a crucial role in their customers' daily life. They provide vital services that their customers rely on day to day. Downtime and service outages can be highly inconvenient for customers and painfully costly for the enterprise itself. 


In a highly competitive market, customer experience and service availability play a big part in determining an enterprise’s ability to attract and retain customers.


Adoption of Business Service Observability (BSO) tools can deliver a key differentiating factor in the banking and finance industry. BSO enables banks to proactively monitor, detect and address issues that may trigger disruption to ensure service continuity, providing a holistic view of the processes and components that make up your critical services. 


Unlike traditional observability, which focuses on IT infrastructure, BSO covers entire business services end-to-end – correlated to IT and business impact.

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What should you look for in a Business Service Observability Platform?

Top priorities for banking and financial institutions when choosing a BSO platform include: 


  • Comprehensive monitoring capabilities: An effective observability platform for the financial sector should cover the entire technology stack, from legacy to cutting-edge infrastructure, applications, networks, and databases. It should offer real-time visibility into each system's metrics, performance, logs, and traces

  • Scalability and flexibility: While banking systems handle and generate vast amounts of data, the workloads fluctuate. The ideal observability platform should be flexible and scalable to handle spiking and dropping service demands without compromising performance

  • Advanced analytics and alerting: Predictive analytics and alerting mechanisms are essential in a bank's observability platform. Such systems use machine learning to help you detect security threats, identify anomalies, and provide actionable insights to help your team make proactive decisions

  • Integration and compatibility: Banks often run on a diverse technological ecosystem comprising tools, frameworks, and third-party services. As such, they need an observability platform that seamlessly integrates with the existing infrastructure without requiring an expensive overhaul

What our customers say

Allied Irish Bank Logo

Allied Irish Bank

Allied Irish Banks (AIB) selected Interlink Software to replace their monitoring software with a modern, integrations-driven, unified Hybrid Infrastructure Event Management platform. The Interlink platform supports AIB’s ITOps in delivering better customer experience through proactive, service-aligned monitoring for the bank’s mission-critical on-premises and cloud-based IT systems, applications

and networks.

What can you expect from investing in an Business Service Observability solution and what you can expect by NOT investing in Business Service Observability!

Investing in BSO brings a host of benefits to the banking sector, including: 

  • Bolstered customer satisfaction: A BSO solution underpins the ability to provide a seamless banking experience. You can proactively address issues, keep up with emerging technology and consumer trends, and significantly improve the customer experience

  • Operational efficiency: Implementing BSO allows banks to streamline their processes, automate workflows and optimize operations while allocating resources more effectively. They can leverage emerging technology, including machine learning, to increase productivity, reduce costs, and identify new opportunities


Neglecting Business Service Observability may have severe consequences and result in unnecessary downtime. Over time, repeated, negative customer experiences could run the risk of customer attrition, dulling your competitive edge.

What our customers say

HSBC Logo

HSBC Bank

HSBC selected Interlink Software's Hybrid IT Infrastructure Monitoring and Service Engine to deliver its Global Manager of Managers platform. Each major region can see the status of global services end-to-end. IT support staff are provided the ability to drill down to the underlying root cause and associated resolution information.

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