With this accelerated pace of digital transformation and the drive to deliver superior user experience at scale, enterprise IT operations and the digital infrastructure are growing more complex
Sankarson Banerjee
Digital revolution is transforming enterprises
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Enterprises are accelerating their digital transformation journey to reinvent themselves and stay relevant in a changing world of customer’s expectations, fueled by advancements in digital technologies. In India, the digital revolution is witnessed through the fast growing Fintech ecosystem and the rise of digital payments such as IMPS, RTGS, ACH, UPI and other newer methods (like Paynow, Paylater, Government e-vouchers etc.) which has paved the way for financial inclusion. For enterprises, specifically in the BFSI and Fintech industries, customer-first, digital-first and AI-first are emerging to be the key mantras.
With this accelerated pace of digital transformation and the drive to deliver superior user experience at scale, enterprise IT operations and the digital infrastructure are growing more complex. The enterprise IT landscape is characterised by a web of distributed transactions with fragmented data sets spanning heterogeneous touchpoints from hybrid cloud, multi-tier applications, micro services to infrastructure. Enterprises today are replete with silo-ed tools and lack of a holistic view into every user transaction or business journey. IT operations and business are under constant pressure in keeping the IT infrastructure up and running, tracking every transaction failure proactively and providing diagnostics and remediation in real-time. Any failure or delays add to the customer dissatisfaction levels with a potential revenue loss.
As estimated by RBI, by the year 2025, India is expected to see 1.5 billion transactions in the digital mode, worth Rs. 15 trillion a day. This estimated astronomical growth in transaction volumes will only cause further strain to the already complex digital infrastructure, mounting pressures on enterprises especially in the BFSI and Fintech space.
Enterprises need complete visibility with business insights in real-time
In a digitally-charged world, enterprises need to have complete visibility of business journeys, a view alike to what their customer has. Having this view with insights and alerts delivered in real-time, helps enterprises to respond proactively than react to any issues, and predict and prevent failures to deliver superior customer experience. This eases the pressure on the IT operations and business teams, freeing their time and effort to focus on delivering newer revenue generating capabilities.
Additionally, the transaction analytics that can be delivered by harnessing the vast trove of data within an enterprise can help improve their operations and provide strategic benefits.
Most importantly, to keep up with the rising digital transaction volumes, enterprises need to have the agility to scale-up in real-time to meet the growing demands without having to go to the drawing board, every time.
VuNet drives business outcomes through business observability
VuNet, a next-gen visibility and analytics company, is driven by the vision to make digital transformations successful by delivering complete visibility of business journeys with personalized, creative insights, all driven by data.
VuNet’s ground up built AI-driven Business Observability platform vuSmartMapsTM addresses the critical gap in enterprise IT operations by providing complete visibility into the customer’s business transaction journey in real-time, at scale. vuSmartMapsTM further enables enterprise IT operations with real-time storyboards, dynamically correlated alerts, ML-driven KPIs like Payment User Experience Index and business insights for CXOs. The visibility and insights delivered help enterprises identify issues, accelerate root-cause analysis which helps in reducing transaction failures and enhancing customer experience. The platform enables both operational and business needs to be addressed through its analytics and delivers to monitoring business outcomes as opposed to traditional problems of availability, performance etc.
RBL Bank partners with VuNet to realise superior customer experience
RBL Bank, one of India’s leading private sector banks, has been on a digitalisation journey over the last few years with a focus on delivering superior customer experiences. Driving the uptime and proactively monitoring the Bank’s platinum-customer facing applications, has been key to delivering a seamless and memorable experience to its customers. To realize this vision, RBL Bank partnered with VuNet.
VuNet’s platform, vuSmartMapsTM, implemented in RBL Bank’s critical customer facing IT infrastructure, delivers end-to-end visibility of a business transaction journey. The flexibility of the platform allowing it to adapt to RBL Bank’s requirements eased the implementation helping RBL Bank realize a faster time-to-benefit. The biggest advantage the platform delivered, is the visibility that RBL Bank has gained over its customer’s business transaction journey by aggregating information across various touch points. And with user experience measurement visualised through a smart storyboard, RBL Bank has a pulse of its customer’s experiences in real-time.
With insightful user-friendly storyboards and ML-driven intelligent, contextual alerts, RBL Bank has been able to quickly identify issues and perform root cause analysis with ease.
The quote by Mr. Sankarson Banerjee, CIO, RBL Bank summarizes it all - “As we continue to engage with our customers who are increasingly using digital platforms, we wanted to provide them an error-free and uninterrupted experience. VuNet’s solution, vuSmartMapsTM is helping us do that and reinforcing the trust our customers have in us.”
Expanding the focus to make greater strides in digital transformation
In order to help customer’s reap greater benefits, VuNet is enhancing the platform’s capability to deliver greater insights and visibility with investments in AI / ML. With the growing data volumes enterprises are witnessing, VuNet realizes the challenge enterprises will have in adapting to it. While VuNet’s platform’s architecture provides for greater scale to meet any data volume needs, the focus continues on making the platform more intelligent, more flexible and adaptable to the needs of any enterprise.
Currently VuNet’s platform is deployed at Banks, Payment Gateways and MSPs and is helping them improve their digital payment experience, driving more financial inclusion across the country by monitoring real-time payment transactions. VuNet currently monitors over 3 billion transactions worth $ 150 billion such as instant payments, real-time payments, Swift, ACH, 3DSecure.
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