Monitoring finance today is made necessary by the disruption introduced by Digital Transformation. This obviously affects all economic sectors, and it is radically revolutionizing the financial and insurance industries, as can also be seen from the latest data from the Fintech & Insurtech Observatory of the Milan Polytechnic.
The Observatory highlights the exponential growth in the use of digital by customers to access financial and insurance services, growth dictated last year above all by the various lockdowns that have occurred. But there is more: the Observatory also attests to the incremental demand of a better user experience. Beta 80 Group is well aware of this need, which is why it offers a monitoring offer for companies operating in Finance precisely to ensure that downtime is minimized. An interruption in the provision of services, in fact, has a negative effect on the customer experience and, consequently, on the reputation of financial institutions and insurance companies that are protagonists in spite of themselves.
Are APM solutions enough for Finance monitoring?
When talking about monitoring for Finance, we focus particularly on data centres and applications relying upon APM solutions. These find the Application Performance Monitoring systems as the "natural" tools to carry out an end-to-end control of the entire technology stack of the organization.
Although there are some market-leading vendors, such as those identified by Gartner in its Magic Quadrant, for example, it is often not enough to choose the right tool. It is necessary to rely on a partner who, like Beta 80 Group, knows both the audience of suppliers and the specific Finance market. The peculiar feature of this world is the coexistence of legacy applications in the back-end part with more recent components, often cloud-native, in the front-end part. The difficulty, therefore, consists in the collection and correlation of information from heterogeneous environments. It is to be added to this, the complexity of having to make a single view on a summary dashboard available to those involved in operations. The expertise of Beta 80 Group means that all of this is simplified.
Beta 80 Group's expertise in Finance monitoring
Today, a few solutions adopt AIOps systems and machine learning algorithms that facilitate discovery activities and sometimes automatic problem-solving on new-generation applications. But this is not always possible in traditional architectures.
Being able to obtain what is commonly called observability in monitoring in the Finance field, requires the ability to identify even more vendors, integrating them with each other in a harmonized way. The era when a single monitoring technology was enough is over, now overwhelmed by the architectural dynamism that characterizes the entire IT world. Similarly, generic or sectoral monitoring may not correspond to the specific needs of that particular credit institution or that specific insurance company. For this reason, those who choose Beta 80 Group to be supported in monitoring do so not only for their experience in the implementation of internationally recognized APM systems but also for their aptitude in knowing how to best exploit the potential of all monitoring systems by connecting them among each other.
Beta 80 Group support in practice
The world of APM vendors and all the others that offer monitoring tools for Finance and more sectors, represents one of the privileged and best-explored areas of research and development by Beta 80 Group. Together with the evolution of its offer, in fact, the transformation in processes combined with operations too requires a constant observation point, which is what Beta 80 Group cultivates with passion and experience.
The monitoring models for banks and insurance companies that were good until 5-10 years ago are now obsolete, but the fact remains that the marked propensity towards containerization and all-cloud has not yet entirely replaced all the technological layers of these organizations. Without forgetting that, because of costs or progression in application modernization, there may be a need to first cover mission-critical environments and not necessarily the overall stack. A choice on which Beta 80 Group proves to be a reference point to support the customer in identifying the best tool or tools by evaluating together their situation, their actual business need and all the variables involved.