Banks to Unlock Consumer Transaction “Big Data” with INETCO AnalyticsTM

Learn more in this 3-minute video on INETCO Analytics for ATM.

New software application for customer analytics provides on-demand access to consumer experience, usage and profitability data

INETCO(R) Systems Limited (www.inetco.com), a leading provider of transaction monitoring and customer analytics software for the banking and payment processing industries, today launched INETCO Analytics(TM). This new self-serve analytics application allows banks, independent ATM deployers and payment processors to leverage their electronic transaction data and analyze how customers interact with automated teller machines (ATMs) and other devices found in point-of-sale (POS), mobile banking, internet banking and branch banking environments.

“Transaction data is a gold mine for financial institutions concerned about the end customer experience. But gaining access and making sense of this rich data source can be costly and time consuming,” said Bijan Sanii, INETCO President and CEO. “INETCO Analytics provides easy, one-stop access to consumer transaction data and blends it with complimentary third party data such as maps, competitor ATM locations, and card BIN (Bank Identification Number) ranges. The result: the ability to know-not guess-how consumers interact with all your digital banking channels, down to a ‘by device’ level.”

The INETCO Analytics software application will be sold with reports and dashboards customized for ATM, POS, mobile banking, internet banking and branch channels. The INETCO Analytics for ATM solution pack has been released for general availability today. Now, rather than spending days ‘mining’ data from sprawling, multi-vendor network infrastructures, ATM channel managers and data analysts can use INETCO Analytics for ATM to see who is using which ATM, what kind of interactions they perform, and the quality of service they experience, all within a few clicks.

“62% of financial institutions in a recent Celent survey strongly believe that customer analytics offers significant competitive advantages and 53% strongly feel they need a granular, holistic and forward-looking view of customers to be competitive,” said Bob Meara, senior analyst with Celent’s Banking practice. “One key to understanding customers and improving banking channel efficiencies lies in making rich transaction data accessible for actionable customer analytics. Top 2015 retail banking priorities – specifically, using self-service channels to drive high value branch traffic, optimizing channel effectiveness, and learning how to sell and service through digital channels – all require a deeper understanding of where, when, and how customers interact with a bank’s various self-service channels.”