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Effective Observability for FinServ
Chronosphere is a cloud native observability platform designed to address the unique challenges faced by organizations in today’s rapidly evolving financial services landscape.
By harnessing the latest technology, open-source standards, and a customer-focused approach, Chronosphere delivers a scalable, secure, and cost-effective solution that enables financial institutions to effectively manage, analyze, and act on their data.
✔️ Control Your Observability Costs
✔️ World-Class Customer Experience
✔️ Improve Developer Productivity
Digital Payments
Digital payment systems revolutionize transactions with their speed, convenience, and cost-effectiveness. However, these advances also introduce unique challenges:
Data Volume
As the number of digital transactions grow, so does the volume of data that needs to be monitored. This can stress existing systems, making it difficult to process and analyze data effectively and in real time. A cloud-native observability solution can scale in line with data volume, ensuring comprehensive visibility into transactions at all times.
Transaction Latency
Users expect immediate confirmation of their transactions. However, handling millions of transactions simultaneously can lead to latency issues. Monitoring these latencies to ensure a smooth user experience is a challenge.
Complex Ecosystem
Digital payments involve multiple systems, such as user interfaces, payment gateways, and backend processing systems. Observing the health and performance of this complex ecosystem can be difficult.
Cloud native observability can help by providing real-time insights into the performance and health of digital payment systems. With a scalable architecture, it can effectively handle the data volume, track transaction latency, and provide a unified view of the complex digital payments ecosystem.
Mobile Banking
Mobile banking provides convenience for customers, but it also poses specific challenges:
Application Performance
App crashes or slow responses frustrate users, leading to decreased engagement. Comprehensive monitoring and timely optimization of mobile application performance are essential.
User Experience
Mobile banking depends heavily on seamless user experiences. Monitoring numerous factors like load times, error rates, and transaction completion rates can be challenging due to the diversity of user contexts (different devices, network conditions, etc.).
Service Availability
Ensuring adequate availability of mobile banking services can be a daunting task. Detecting and responding to any downtimes or service degradation quickly is a significant challenge.
Cloud native observability platforms enable continuous monitoring of mobile banking services. They help track user experiences across various scenarios, ensure the performance of integrated services, and maintain high service availability by identifying and alerting about potential issues in real-time.
Automated Financial Investments/Advisory
Automated financial advisory systems, like robo-advisors, democratize investment advice, but they’re not without their challenges:
Real-Time Decision Making
Robo-advisors need to process large amounts of data and make decisions in real-time. Monitoring these processes for any delays or inaccuracies is critical but not easy.
System Interoperability
Robo-advisors need to interact with various systems, including customer databases, market data feeds, and trading platforms. Ensuring seamless communication and monitoring these interactions can be complex.
Cloud native observability solutions play a crucial role here too. They can monitor the performance of complex algorithms in real-time, ensure efficient data processing for quick decision-making, and maintain smooth communication by identifying and resolving potential system interaction issues.
Financial Services Resources
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Buyer’s Guide: Control Your Observability Costs
The financial services industry is always looking for ways to reduce costs while improving performance, especially in times of economic uncertainty.
With Chronosphere’s pricing model, you only pay for the data you persist, allowing you to reduce unnecessary expenses and allocate resources more effectively. Maximize the value of your technology investments with cloud native observability. Download the Financial Services Buyer’s Guide now.
TEI Calculator: Estimate Your ROI
How much could your business save and grow by using the Chronosphere cloud native observability platform?
Answer a few simple questions to get your customized Forrester TEI(™) Study, and learn more about the benefits of cost savings of working with Chronosphere.