Sep 20 , 2010

Moneris signs up for Inetco platform

VANCOUVER--North American transaction processor Moneris Solutions is to implement Vancouver, BC-based Inetco Systems Ltd’s Insight system in its Canadian data centres.

“Moneris wants to enhance the service it provides to its customers,” Marc Borbas, vice president of marketing at Inetco, tells Payments Business.

Insight provides alerting, inquiry and reporting tools for monitoring and analyzing the performance of ATM, point of sale (POS) and other EFT payment channels across dial-up, IP and wireless network environments. The system also provides real-time data on the performance of communications networks used to transport payment transactions.

“By using Insight, Moneris can direct problems occurring in the transaction processing network or at an issuer or acquirer to the appropriate level of support so they can be fixed before they result in customer service disruptions,” Borbas says. “They can use Insight to pick up the fact that the network is slowing down, well before the merchant notices and starts calling the Moneris call centre.”

Borbas says the Moneris deal is very significant for Inetco. “Moneris is our first Canadian client, and they are a leading processor in Canada,” Borbas says. “In the US, our clients include Jack Henry & Associates, Open Solutions and FIS (Fidelity National Information Services).”

Borbas says that the Moneris deal is part of a trend that Inetco is observing at large processors. “They have good diagnostic tools, but they have lacked the ability to get an overall view of what is happening across the network,” he says. “That is why processors such as Moneris or Jack Henry & Associates are installing Insight.”

“Unlike traditional ‘deep-dive’ application and network monitoring tools, Insight provides a systems-wide view into the performance of all our business-critical applications and networks,” Amer Mater, SVP of products and technology at Moneris, said in a statement. “By deploying the Insight transaction management solution, Moneris has gained the real-time visibility and historical transaction intelligence needed to proactively analyze, diagnose and report on the performance of every payment transaction and deliver the best customer service possible to over 350,000 merchants.”

Separately, Inetco has announced that it has joined the Advanced Message Queuing Protocol (AMQP) Working Group. Backed by more than 20 financial service institutions and vendors, such as Bank of American, Cisco Systems, Barclays Bank, Microsoft and Novell, the AMQP Working Group was formed to drive the development of a vendor-neutral, platform-agnostic message protocol that will lower the costs associated with messaging-oriented middleware software integrations through interoperable business messaging.

Inetco says it will be adding AMQP 1.0 to the list of financial protocols and proprietary message formats already supported by its Insight platform.

AMQP 1.0 is an open-standards wire protocol that eliminates the communication gaps between proprietary middleware products written for different platforms. By complying with AMQP 1.0, value-bearing transactions can be exchanged between organizations in a more efficient and secure manner.

Examples of these transactions include:

External communications to customers, such as reliably disseminating timely stock information fairly to all clients, with minimal delays;

External back-end communications with companies and service providers, such as conducting financial exchanges between banks, stock exchanges and other financial service institutions;

Internal communications between application components such as accepting and processing orders from clients or distributing price and inventory information in real-time across global networks.

 

 

 

 

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