“It is the only software out there that is able to capture and correlate multi-protocol transactions across multiple banking application hops, while operating independently of the underlying application or switch being monitored,” Kambiz Asrar Haghighi, vice president of product management for INETCO, said.

Transaction analysis data is continuously streamed from the INETCO Insight real-time transaction monitoring software platform into the INETCO Analytics application using a secure data feed. This data can then be used to produce member analytics and other big data banking analytics.

The system runs on BECU's DNA core from Fiserv, and while CO-OP Financial Services drives the ATMs, on-us transactions are completed through CO-OP with real-time processing to the core.

“We are a bit of a hybrid,” Taylor explained.

The credit union has been using INETCO's products since the end of July, but said it is still learning the intricacies of the systems. However, according to its September data, the system is already producing results.

“We made some pretty good strides in the amount of time we're saving,” Taylor said. “We are seeing a number of the efficiencies and are also getting good response on modifications we are making in reporting as well as the how quickly and effectively we are able to complete some of our analysis work.”

In the past, for example, adding ATMs took eight to 10 hours to complete; now, it takes two to four hours.

BECU leverages the following key INETCO Insight features:

• Alerts triggered by unsuccessful withdrawals or deposits and based on expected volumes at specific locations within defined timeframes.

“While the vast majority of these situations already generate fault messages triggering service calls, there are times this process doesn't work, leaving the ATM in a partially disabled state and not completing critical transactions,” Taylor said.

• Measurement of service outage effects for each service call/event based on historical data for a specific ATM. This is a key performance indication for the credit union, Taylor said, because it helps define member experience and channel delivery effectiveness.

• The gathering of data and transactional information, which is BECU's foundation for ATM analytics.

“With this nearly real-time data, we are able to access our transactional information in a timely manner now versus waiting a month,” Taylor explained.

INETCO Analytics provides data on items such as ATM additions, moves and removals, geographical analysis, channel strategy updates and reporting. It also offers analytics such as total volume, peak hour volume (as defined by BECU), volume during specific hours of the day, and maps that track BECU ATMs, BECU-branded ATMs, CO-OP ATMs and even competitor ATMs.

BECU can also leverage transaction data to determine the effectiveness of the user interface and other enhancements by measuring the pre- and post-change transaction/interaction times, and better manage cash by observing ATM withdrawal and replenishment amounts and automatically reporting them in a timely manner.

“Credit unions and all financial institutions, for that matter, should identify goals around their use of data and identify the key components to help them in their strategic, day-to-day decision making,” Haghighi said.

He recommended financial institutions implement a “crawl-walk-run” strategy, in which they leverage the expertise and products available to accelerate their move to a data-driven environment.

Taylor pointed out that since INETCO's applications are not member-facing, BECU will continue to track its Net Promoter Score, which measures member loyalty, as the technology evolves to include more proactive and responsive alerts, as well as better reporting, strategy and overall channel management.

“When you are doing something like this, you know it is going to change things,” Taylor said. “This is absolutely a journey, it is not a destination. Who knows where we are going to go with this. You have got to be open to looking at data differently and how you apply that data, just knowing it is not just a number on a screen.”