Preventing Banking Errors: Q&A with Charley Rich of Nastel

by Banking.com Staff April 24, 2014   Insights

As anyone in banking knows, the slightest error can result in catastrophe. Recently, Banking.com spoke with Charles Rich, vice president of product management and marketing at Nastel, an application performance monitoring company, about how the company works to help mitigate issues for financial institutions and where the biggest challenges lie.

Charley Rich, Nastel

Charles Rich, Nastel

Banking.com: What do you see as the biggest issue for financial institution’s data transfers?

Charles Rich: The biggest issue for data transfers is to ensure that they arrived on-time and accurately.  Often, there is a bottleneck in performance that prevents on-time delivery.  The challenge is building a performance monitoring culture that finds these problems before the issue impacts the transfer.

Banking.com: How does Nastel work?

CR: Nastel provides real-time monitoring and analysis of messages and transactions. Nastel’s product, AutoPilot is built on an analytical engine using Complex Event processing.  This analytical engine enables AutoPilot to utilize pattern matching of events from multiple sources along with algorithms to detect anomalies. AutoPilot is very effective at reducing the frequency and duration of incidents and at reducing false alarms.

Banking.com: What is the most common error that Nastel works to correct?

CR: Delivering visibility to IT where they were previously unable to detect problems before impact or unable to determine root-cause.

Banking.com: Is there any advice outside of adopting the Nastel technology you have for financial institutions?

CR: It is important to have requirements for applications that include performance expectations.  These should be appropriately tested in QA.  It is surprising how many times testing only looks at individual functions and does not adequately test performance.  It can be challenging to improve performance late in the application’s lifecycle.  It is better to design it in and test it before provisioning into production.

Banking.com: Which industries are the most successful or innovative right now in their data management?

CR: Healthcare is moving into the forefront as they begin to handle the loads of data from both claims and electronic health records.

How are you mitigating risk with data transfers?

 

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