Banks facilitate the process of production, exchange, and distribution of wealth. They play a vital role in the economy by offering different services to people wishing to save and borrow money. That said, banks have helped tremendously in the process of economic development and growth.
With the arrival of new technologies, software, and applications, there have been evident changes to the use and delivery of banking services. From new customer service interfaces to stronger security and faster transactions, banking services have become more progressive and adaptable, which is beneficial in driving industry growth.
In the past years, it can be noticed that banks leading the markets are those with a robust technology framework supported by managed IT services. By entrusting their IT systems to an outsourced service, they have more leverage against their competitors. Managed services provide them with reliable networks and servers to handle customer data, cloud platforms that enable agile responses to customer needs, as well as solid backup systems from a security and regulatory perspective.
As banks manage sensitive and proprietary data, ensuring a strict IT security is a big concern for them. They have to make sure that the financial information of their clients are safe, whether it is simply being stored on servers, or is being transferred over any network or branches of the institution. Aside from this, data handled on the go requires in-depth security as well. Since a proportion of customer transactions are being done on mobile devices, it is important that bank networks are impenetrable, to give peace of mind to both the bank and the customers.
Using managed IT services for banks allow them to deploy proper security and comply with the policies and procedures in place, increasing the satisfaction of their customers.
As technology plays an important role in people’s day-to-day lives, it would be great to have IT experts that will help organizations like banks to manage and monitor their infrastructure. Here are some benefits of outsourcing managed IT services for banks.
1: Reliable Networks
Having a patchy IT network can slow down the pace of the work you are doing. Apart from this, bottlenecked connections and old servers can also upset clients who need to access their accounts to make transactions. Having managed IT services can improve the quality and reliability of a bank’s systems and networks, without having to worry about their technology.
The speed of technological advancements can cause small and mid-sized banks to struggle in terms of keeping their IT infrastructure updated. It is a challenge for them to allocate their budget for their own information technology while also trying to prepare for unexpected downtime and irregular growth patterns. Having managed IT services handle your IT systems planning will allow you to plan better for the future.
Since managed IT services for banks are billed monthly, they are entirely predictable. Aside from levelling out your monthly expenditure by spreading it throughout the year, it will also give you the opportunity to plan future spending. This way, it will be much easier for you to determine how and when to upgrade equipment and invest in new services to help your bank grow further.
4: Access to Top Talents and New Technology
Another benefit of managed services is that it gives you access to higher tier talents. As IT companies usually hire experts with deep knowledge in specific areas, you can expect their staff to provide you with all the necessary help. Full-service IT providers may also supply you a virtual chief information officer to help you study, plan, and implement smart technology growth at your bank.
Likewise, managed IT services can improve your efficiency by providing you better hardware and enterprise software for a lower price than you could get on your own.
Whether you need a comprehensive managed IT services or a team to supplement your in-house crew, outsourcing an IT provider can deliver services and support which can be customized to meet the specific needs of your bank.
We, at Swift Systems, aim to give our clients high quality services and solutions at reasonable prices. Our team of experts can help you develop best practices and workflow procedures to achieve your company’s objectives. Contact us today for a free quotation.