Each day, there are new opportunities originating for financial services organizations. Is your firm ready to rise to take advantage of these options, or are you still struggling with aging operations and less-than-optimal data storage structures?
Your infrastructure shouldn’t be what is holding your teams back from innovation and creating the greatest possible value from your resources. With an evolving compliance climate and greater challenges on the horizon, there’s never been a better time to enhance your current security and compliance strategies.
Atlanta IT Support professional, Marius Nel with 360 Smart Networks shares the importance of cloud security and compliance with financial institutions.
Take Advantage of Consumption-Based Pricing Models
One of the key reasons companies stick with outdated technology is due to the overwhelming costs associated with software and hardware upgrades. Making the time to create a task-force for upgrades often pulls IT professionals away from their day-to-day operations — something that is difficult to navigate with all of the moving parts associated with financial services technology solutions. With consumption-based pricing models and cloud software solutions, your firm is better able to maintain consistency in your operations even while you’re upgrading to more secure and efficient technology solutions.
Respond to Changing Conditions in Real Time
Your financial services institution is only able to remain profitable when you can quickly adjust to changing conditions within the market or broader economic environment. With cloud-based solutions, you are gaining a more flexible option for your technology infrastructure that can provide a secure and reliable base for your operations. Each step that your firm takes towards digital transformation allows for an improved ability to shift direction to meet new challenges and opportunities as they arise.
Enhance Productivity with Digital Transformation
Anytime your staff or customers are required to take additional steps to perform everyday activities, your productivity (and the customer experience!) can suffer. Cloud-based applications often allow a greater degree of customization in a way that doesn’t preclude software patches and upgrades. WIth 42% of employees noting that having the right tools available to do their jobs would improve their job performance and motivation, it’s not hard to see how digital transformation could be exactly what your firm needs to become more competitive.
Improve Security and Compliance with Cloud-Based Solutions
There is a great deal of discussion around cloud solutions in the financial services sector. While shifting to the public cloud may not be the best or most secure option for your firm, there is plenty of hybrid or private cloud options that offer all of the benefits of cloud computing without the inherent compliance and security issues you might find with more public data storage strategies. Utilizing a cloud storage option for your sensitive financial services data can improve compliance in a variety of ways, such as offering more secure and reliable options for backup and disaster recovery. Today’s data needs to be highly portable as well as being secure, with standards in place to ensure that your clients, employees, and partners are able to comfortably and securely access the information needed to perform daily tasks. Cloud providers offer a range of tools such as AI-based security and active patching to help protect your data at rest as well as in transit.
Maintaining secure and compliant operations is not an option for financial institutions — it’s an imperative. Your local IT managed services provider has the tools and information needed to ensure that your firm’s operations are as protected as possible from the proliferation of cybercriminals. When you work with external technical professionals, it provides your internal IT experts with the time and energy to focus on new ways to innovate and improve productivity within your organization.