Alert Management Solutions

Electronic Switching Platform: ESP-Link™ Alert Management Solutions (AMS)

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Overview

Today’s banking customers require immediate real-time personalized service delivered in the most convenient manner. The most personalized device “in hand” today is the mobile phone. In most countries, cell phones are able to send and receive not only voice but text messages as well, the latter known as short messaging service or SMS. In fact, “SMSing” is the fastest growing means of communication because it offers personalized contact for very little cost (usually at least 1/10 the price of a voice call).

Banks and financial institutions are now able to send real-time, personalized messages on any transaction deemed to be time sensitive to customers. Examples of these messages are: NSF cheque alert, term deposit coming due, a large bill to be paid, % of credit card limit utilized, car loan or mortgage approved, special investment opportunities for attractive deposits, stock quotations, large deposit received and cleared as available funds and FX rates refreshed every 15 minutes. The number of alerting scenarios is virtually endless and limited only by the creativity of the financial institution and the customers themselves.

In addition to the scenarios above, mobile alerts are very effective tools for providing notification of the receipt of incoming remittances where approximately 70% of the benefactors may not be customers of the financial institution. Remittance alerts raise an opportunity for signing new customers through bundling with other mobile products and services.

Bevertec believes that this method of instantaneous communication with customers represents a sustainable competitive advantage for any bank that deploys a “Financial Business Event Management Strategy” for not only retail customers but also for the commercial business customers.

Benefits

• Instantaneous Business Alert Strategy for Customer Care Centres
• Easy to configure and implement
• Increase revenue streams and reduce fraud instances
• Reduce customer turnaround
• Improve customer service and enhance retention

Types of Alerts

• Credit Cards Alerts
• Bank Account Alerts
• Remittance Alerts
• Insurance Alerts
• Promotional Alerts
• Capital Market Alerts
• Unlimited Number of Customized Alerts

Architecture

The Alert Management Server from Bevertec is a standalone solution consisting two modules: an alert manager and a rule engine which can be interfaced with any of the host system.

The information derived from the host system will be processed by rule engine and evaluated for alert criteria. Once an alert criterion is established, then information about customer and message will be passed on to the alert manager module. The message management component in alert manager module composes alert message for appropriate delivery agent such as SMS or e-mail based on the user preference. The alert manager module also has web based user interface for enrollment by the users for appropriate alert messaging service.

It is the rule engine feature of the alert management server that makes the product different from whole lot of its competitors. The alert services provided by most of current solutions are tightly coupled with a host system. This means introduction of any new alert service feature into the system would require a whole lot of reworking. However, this will not be the case with alert management server. Moreover, this rule engine module makes the product “stand alone” in the sense that it can be populated with appropriate “alert criteria objects” for the product it is intended to be interfaced with and many rules for various alert scenarios can be composed and applied on to the information received from the host for evaluating an alert situation. The appropriate alert message will be sent via chosen medium of delivery such as SMS or e-mail.

The Alert Server provides both User and Administrative features as summarized below:

User Features

• Change profile:
  – Change Password
  – Change Profile information
• Select and activate new Alert from the list
• Modify selected Alert
• Block pre-selected Alert
• Cancel pre-selected Alert
• Unblock pre-blocked Alert

Administrator

• Define Alert
• Block Alert
• Unblock Alert
• Purge Alert
• Modify Alert
• Define rules
• Modify rules
• Purge rules
• Block user
• Unblock user
• Block user alert
• Unblock user alert
• Define user
• Purge user
• Block user
• Unblock user
• Host DB admin