TECSys Development Inc. (TDi) the leader in Web-based enterprise monitoring and management solutions, announced a new client from the financial services space, Bank of America (BofA) (NYSE:BAC). A leading provider of financial services, Bank of America is using TDi's ConsoleWorks solution to give them real-time notification and management access to their Wire Transfer applications.
In this department, where millions of dollars move across the network every minute, network downtime is not an option. TDi's real-time notification and event monitoring equates to reduced meantime for repair, saved costs (since it protects a revenue generating application) and increased network availability, and therefore increased revenues.
When BofA decided to migrate the applications in their Wire Transfer Department from an older VMS operating system to the more prevalent AIX (IBM server) platform, they no longer had access to their old VMS monitoring tools. They were left with earlier generation SNMP-based tools that worked by polling stations along a network and verifying if they were still connected. This works well when a network is functioning properly, however, it offers little assistance or diagnostics when the network is experiencing problems.
In addition, there can often be gaps of time between polling and alerts - causing delays to the repair process. The SNMP-based polling method merely alerts the user that a station or node is offline; it offers no useful remote information to repair the affected system. In a high-finance world where seconds mean dollars, this is an unacceptable situation.
Since no existing BofA bank tools could fulfill their needs, the Wire Transfer Department received approval to implement TDi's ConsoleWorks 2.0 solution. Whereas SNMP-based tools offer merely monitoring, ConsoleWorks gives BofA full monitoring and real-time management of their wire applications. ConsoleWorks creates a Syslog listener to monitor the application in real-time, then checks the logs against a database of events. ConsoleWorks then takes that event and, using pattern matching, is able to identify and find the appropriate correction for a given event. With this new system in place, alerts now come with recommended solutions thereby reducing meantime for repair and saving costs.
"In a world where finance, money and networked technology are inextricably linked, financial services companies are taking a hard look at ways to ensure the integrity of their systems," said Steven Cotton, CEO of TDi. "Downtime is not an option for companies such as Bank of America who are responsible for the electronic movement of large sums of money across networks. With the ConsoleWorks enterprise management solution, companies gain real-time visibility across their entire network and are able to proactively monitor their systems and have immediate control over critical events, guarding against interruptions."