For the new system, mimacom and Elasticsearch worked with SIX Interbank Clearing AG to develop a modern solution for monitoring the business and technical status of payments
SIX Interbank Clearing AG, an associated company of the SIX Group, operates the SIC payment system on behalf of and under the supervision of the Swiss National Bank. The system processes gross settlement Swiss franc payments between financial institutions in real-time.
For the new system, mimacom and Elasticsearch worked with SIX Interbank Clearing AG to develop a modern solution for monitoring the business and technical status of payments. The system processes some 7 million payments per day, each of which generates up to 7 log events. The challenge was to record and analyse the approximately 50 million events logged every single day. The previous monitoring system did not allow searches for specific events, which is an important requirement today.
The solution implemented by mimacom and Elasticsearch uses the ELK Stack (Elasticsearch, Logstash, Kibana) to fulfil the requirements of the new monitoring solution. The JSON-formatted log files are collected using Logstash, indexed with Elasticsearch, and finally visualised with Kibana.
The ELK-Stack-based solution offers exceptional flexibility for adding use cases. It provides both an overview of the payments and their clearing status as well as diagrams which show the response time of incoming transactions from different financial institutions. The new solution allows in-depth analysis of the active webbased users and offline banks. Moreover, it can provide statistics on the payment performance of the financial institutions. The new system also includes a finegrained alarm system. Different KPIs are monitored and compared with threshold values, triggering visual and acoustic alerts when anomalies are detected.
“ELK Stack is the only product stack that can consume and analyse the large quantities of financial transaction data we have, in near real-time.”
Marco Kundert, Project Manager, SIX Interbank Clearing AGBack to overview