Point money, one of South Africa’s largest open banking platform, was launched in January 2021. As a banking platform that is not tied to any bank, Spot Money offers consumers financial flexibility – products from a number of financial service providers that use different payment platforms.
The biggest problem for Spot Money: everyone gets annoyed when they can’t see their funds. This is even more true when they can’t make payments when they need to. When it comes to people’s money and how they spend and store it, secure access to accounts is crucial. This is why Spot Money business depends on systems running 24/7/365. Here also comes IT monitoring – make sure these systems stay up and running.
Too hard to do on your own
According to Spot Money Chief Technology Officer Phil Benoit, a few months after the launch, the company carried out its own small monitoring. But given its startup status, the company quickly realized that efforts to create a monitoring solution at the same time in the process of developing its own platform with a small team were unrealistic. Spot Money needed to focus on its core.
“We were linked to Sourcing by Ignition, which said that if we did our best to deploy our own monitoring solutions, we might want to explore what Sourcing has to offer. The offer, of course, turned out to be very valuable for us, ”Benoit said. “It has greatly reduced the burden on me as part of a small startup where time is very limited. It also reduces the burden on our development team, which knows that as long as they consistently deploy our services, the Sourcing team can perform the necessary monitoring to ensure that our services remain reliable for customers. ”
Benoit says Spot Money set the monitoring parameters with suggestions and Sourcing guidelines, and Spot Money had to make a minimal contribution to keep everything running and running. Now it just gets calls from Sourcing when a problem occurs, and often only when a third-party system has failed, affecting Spot Money services. This means that the notice must be sent to a third party so that Benoit himself can return to sleep when the notice occurs at 2 p.m.
Maintaining Customer Satisfaction Spot Money
Spot Money’s sense of security in the reliability of its systems has greatly improved. “We know there’s someone guarding our backs 24/7, and when we deploy new services, we wake up in the morning with the confidence that if we don’t hear something else, everything in architecture works and works,” Benoit says. Effective monitoring gives Spot Money a competitive advantage, but the main challenge (and advantage) of effective monitoring remains satisfied customers.
If a problem arises, Spot Money can effectively communicate with customers to reassure them that their money is safe, what the specific problem is, the steps taken to address it, and the time to resolve it. Software crashes are a common part of the business, and informing customers about what is happening is very important.
Partner, not supplier
For the first time looking for IT monitoring systems, Spot Money reviewed the plugins available on the market and the work it would take to integrate them into its platform. According to Benoit, they tend to use standardized approaches that do not necessarily meet the needs of Spot Money. He says some big players tend to give you a lot of documentation and then put the burden of plugging all of their code into your app and make it work for you.
“We went through this with one of the vendors and quickly realized that it would be a difficult task for our little team to go through all of this. We then spoke with Russell Stater, Ignition’s Director of Digital Transformation, who said they work with Sourcing, very pleased with the decision and enjoyed how Sourcing focused on understanding their business and adapting IT monitoring solutions to their needs ”.
It seems the power of Sourcing lies in the understanding that each set of technologies is unique …
He says Sourcing’s approach has always been to ask yourself what the particular problem of Spot Money is, and try to create a solution rather than just supplying the product in the form of cookies. “The power of Sourcing seems to be in understanding that each technology stack is unique, and in delving into the nuances of the problems you face, and in how you need to report and address any potential failures.
According to Benoit, engagement with Sourcing has always been friendly and collegial. He says the cost of a good IT monitoring partner is lower than the cost of doing it yourself, because you get access to a small part of a wide range of monitoring experts, rather than creating all the opportunities yourself. In addition, the human aspect of the relationship with Sourcing is key for Benoit, who says he appreciated both the forgiveness when a member of the monitoring team had to call him at 2am and the persistence they showed in getting to keep him to eliminate failure in IT.
Sourcing, monitoring company is a global monitoring service provider that can help you solve and solve your IT infrastructure monitoring problems today using a single technology platform that spans hundreds of technology integrations – a wrapped advanced service methodology.
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