Verdande Technology, provider of real-time Case-Based Reasoning (CBR) technology, today announced its partnership with Nastel Technologies, a premier provider of application performance monitoring (APM) solutions.
Verdande Technology's CBR-driven Edge Platform will be integrated with Nastel Technologies' AutoPilot® APM solution to provide financial services organizations with two-tier predictive analytics software that will help end users predict system-impacting occurrences before they happen, allowing them to mitigate risk, reduce service outages and remain compliant with regulatory reporting requirements.
Financial services firms are spending millions of dollars on technology, however they still do not have a tool that will adequately warn them of potentially detrimental problems ahead of time. Verdande Technology's CBR solution is based on the principle that similar problems have similar solutions. By harvesting massive datasets, Verdande Technology identifies impacting events and solutions from past events to provide a realistic assessment as to whether a similar scenario is likely to happen in the future. With the partnership, Verdande Technology's CBR platform takes data from Nastel's AutoPilot solution, and provides real-time actionable intelligence to prevent business-impacting issues before they occur.
Verdande Technology and Nastel worked with one of the world's largest investment banks to create an early warning system for potential problems. The Bank required an operation support tool that could help increase the value of its "Run the Bank" (RTB) team, which was spending too much time investigating false alarms. The Bank needed a reliable system to map events within its IT infrastructure to previously recorded experiences and map those cases to recorded solutions. Verdande Technology's Edge Platform was implemented with Nastel's AutoPilot solution which delivered a powerful, scalable means to collect and source data. The joint solution was then able analyze heterogeneous data sources to create an early warning system for potential problems and offer the Bank solutions based on previous experiences.
"The Verdande Technology and Nastel partnership will bring unprecedented predictive value to financial services organizations - something they are still lacking despite heavy IT investments'," said Jo Kinsella, CEO, financial services. "We look at CBR as the 'roof of a house,' which can sit on top of existing IT systems as a value-added early warning system that turns data into actionable insight. In conjunction with Nastel AutoPilot, financial services firms now have a way to predict systems-impacting events before they happen, something that is invaluable in a time of news-making outages and failures and new regulatory reforms."
"We look at the reduction in user impact, a result of the early-warning system provided to the investment bank, as a great example of the value enterprise customers can gain from the Nastel-Verdande partnership," said Charley Rich, vice president, product management, at Nastel Technologies. "Enterprises are being buried under big data and finding it difficult to maintain a real-time perspective of their operations. Nastel AutoPilot's Complex Event Processing (CEP) can turn this big data into small, actionable data, which Verdande CBR can use to provide immediate, actionable insight. The early-warning system based on Nastel's and Verdande's technologies gives customers the comfort level they need to execute their programs and grow their businesses in today's competitive environment."