Financial data represents some of the most sensitive information belonging to a person or an organization – financial institutions are charged with handling it safely while still keeping pace with the world around them. Few businesses must play such a delicate balancing game between security and efficiency as banks, credit unions, brokerage firms, or insurance companies. To succeed, they often turn to managed IT services to keep the network in order.
Managed IT services are especially valuable to businesses in the finance industry. The combination of unique needs and specific benefits can help organizations achieve the operational efficiency and legal compliance requirements they need to stay in business.
How Managed IT Optimizes a Financial Institution Network
The average financial institution requires a constellation of services, capabilities, and security policies to carry out daily business. Managed IT services assist with each of these by implementing best practices overseen by experienced professionals to optimize the network. Through a managed IT service provider, a finance firm may enjoy the deployment of:
● An assessment which spots inefficiencies, opportunities for improvement, and blind spots the internal IT department may have missed.
● Automated backups to ensure that critical information is never lost or misplaced.
● Cloud services which lighten the load on the internal network, keeping server space available for the processes that need it.
● Streamlined internal communications to help employees across multiple departments remain on the same page.
● Up-to-date cybersecurity measures, such as a current antivirus, malware protection, and constant threat monitoring or analysis.
● Updated hardware to take advantage of the latest and most secure devices.
● Industry insight from a proven professional which knows both the IT and financial industries.
The diverse nature of organizations, even within the financial industry, means that optimizing an IT network occurs a bit differently every time. A good managed service provider has the experience, and the ability to take this into consideration.
What Makes Finance Firms Unique?
A financial institution is unique in the needs and requirements it has for its network infrastructure. Whereas many other types of companies can focus solely on operational efficiency for their digital environment, a finance firm has several other considerations – many of which are born from legal requirements designed to keep sensitive financial information secure. In general, a finance firm’s IT infrastructure must do four things:
1. Emphasize Security and Compliance
Finance firms are beholden to numerous security and compliance requirements which are not optional to follow. These legal requirements are designed to keep consumer personal data safe and failing to adhere to them come with costly fines. However, compliant doesn’t always mean secure, but a managed IT provider can help finance firms achieve both.
2. Focus on Disaster Preparation
Business continuity represents a chief concern for financial firms of all types. Since financial information and decisions lie at the heart of many decisions, clients – often businesses themselves – rely on their ability to keep information safely backed up and stored.
3. Balance Security and Accessibility
Financial institutions require more sophisticated network infrastructure than other types of businesses. While everything must remain secure at all times, it also needs to remain accessible so that users can get the information they need and when they need it.
4. Operate Digitally and With Hard Copies
Banks – along with the legal industry – must still content with laws which require them to handle paper documents. However, with a significant portion of their business operations also conducted digitally, financial institutions need a way to bridge the physical and digital divide.
Managed IT: Get the Most Security for Data
When it comes to security, cutting corners isn’t an option. Finance firms need robust security to safeguard the most sensitive information which most people possess. Managed IT services help financial institutions get the most security for their data by introducing bespoke solutions to create a secure network. These solutions work with the firm’s budget while deploying strategies which augment existing infrastructure. With managed IT, finance firms of every type can enjoy a secure, efficient environment which enables the firm to remain productive and competitive.
DSI Is an Experienced Finance Industry Managed IT Service Provider
There are many great managed service providers available, but not every provider demonstrates industry-specific knowledge. With DSI as a strategic partner, finance firms will benefit from solutions which are built with their specific needs in mind. The result? A stronger system, more efficient workflows, and a solution which meets every challenge that might be faced.
DSI is a premier provider of managed IT services for financial firms in New Mexico. Start a conversation with a specialist today to discover what we can do for you.