SENTRA™ Puts U.S. Issuers and Processors on Offense, Instantly Mines Big Data, Monitors, Tracks, Analyzes and alerts Clients to challenging Transactions or Operations
Social Media Component Helps CEOs Protect Shareholder and Organizational Value Integrates Seamlessly with All Authorizations Systems
NEW YORK, NY & MANCHESTER, ENGLAND, May 1, 2014 — British technology innovator Insider Technologies today armed the U.S. banking and payments industry and the CEOs that run it with powerful new predictive security solutions that helps them go on offense in their continuing battle to keep clients financial transactions secure. The company, which represents some of the top institutions in Great Britain, including Barclays, WorldPay and Her Majesty’s Government, calls the new technology SENTRA™ – a client-server based software application for big data, multi-platform payment, transaction and messaging systems. This week Company EVP John Bycroft is officially launching the SENTRATM solution in the USA and establishing new operations to support the innovative new solutions 24/7 across the nation.
In light of the Target security breach in which more than 70 million consumers had their personal data stolen, U.S. financial institutions must quickly develop solutions that better protects the integrity of each financial transaction. The impact of the Target style breach, thought to have originated in Russia, is being felt throughout all levels of the U.S. corporate environment. Since last December, Target has lost 46 percent of its share value. The incident has cost Target more than $200 million and it has spent more than $60 million upgrading its systems. It clearly may still not be enough. Many experts believe that U.S. payments systems are weak in comparison to the rest of the developed world. For instance, EMV chip cards are used widely elsewhere yet in the U.S. far less secure magnetic stripe cards are still used overwhelmingly by card issuers. The U.S. payments industry is undergoing massive transformation by migrating to Chip cards, tokenization, mobile, contactless and digital currencies.
“Today there is a great need for innovative, highly cost effective and efficient big data system monitoring solutions like SENTRA™,” noted John Bycroft, Executive Vice President, Insider Technologies. “SENTRA™ offers clients a unique layer of protection by proactively collecting large amounts of data and then instantly providing answers to clients. We do this by providing powerful monitoring, tracking, alerting, escalation, intervention, and reporting tools, which can be managed from a single console view. That’s the beauty of SENTRA™.”
Protecting Shareholder and Organizational Value
In today’s world of social media and the 24-hour news cycle, news and events are reported at laser speed. Trending cycles on social media are a good first indication that something is wrong.
SENTRA™ monitors and instantly alerts clients to developments across all major social media networks before the panic starts. “This is a window of opportunity for CEOs and management to quickly problem solve and stabilize crisis situations before they get out of control,” noted Bycroft. “It protects shareholder and organizational value and if you look at valuation losses sustained by some large retailers recently, the investment in a SENTRA™ makes perfect sense.”
Best Total Cost of Ownership
Increased depth of monitoring and intelligent data handling means that relevant data is available in either real-time or historical formats. More informed decision-making is therefore possible, improving the ability to respond to problems and to plan effectively for the future. A full implementation of SENTRA™ means that previously labor-intensive tasks can be automated and centralized. This improves resource utilization and reduces total cost of ownership (TCO). For more product information check out our white paper and product data at www.insidertech.co.uk/products/sentra/.
About Insider Technologies
Based in Manchester, Great Britain, Insider technologies is a leading provider of big data, predictive software security solutions to the banking and payments industry. The company’s innovative high volume transactions analytics systems allow card issuers and processors to maintain their systems’ integrity and instantly monitor track, analyze and quickly alert them on challenging electronic transactions or operational issues. The solutions integrate seamlessly with all payment authorization systems without any loss in performance. In addition, Insider technologies’ reputation management solutions track social media networks enabling clients to better understand and act on key trends and issues that negatively impact shareholder and organizational value. The ability to instantly manage large client data and report key information direct to a single console sets Insider technologies apart. For more information visit www.insidertech.co.uk.