Time-based (or delivery based) monitoring is the collection of expectations that need to be fulfilled at a certain moment in time. A good example for banks is the End of Day statement.
As shown in above diagram, the steps 1 sets an expectation with certain criteria. These criteria range from the moment a expectation needs to be fullfilled downwto file-formats, account numbers, currencies and/or an expected balance.
How can you be sure from a customer perspective that for example the end of day statements are generated on time? Even more complex when a partnerbank is reponsible for the generation.
The above pictures shows that monitoring is partially fulfilled. Internally there is monitoring on the own systems, however, it is not visible of other (FinTech) companies and/or branches that have delivered the needed data. It is also internally not always visible if (international) cash pools were processed.
We place a time-based expectation on our system and check whether this is fulfilled to all requests. Besides checking for account details, and/or date information we can also see if a target balance is correct as defined.