TECHNOLOGY REQUIREMENTS FOR FINANCIAL SERVICES
Technology has significantly enhanced efficiency, enabling financial services to accomplish more in less time. While solutions and applications exist for various aspects of business, it's important to acknowledge that these technologies may not always operate seamlessly when not managed by an experienced IT Partner. Regular attention, troubleshooting, and maintenance are essential to ensure optimal functionality.
For a financial services company, key technological needs often fall into the following areas:
Network, WiFi, & Communication: High-performance and high-availability solutions are crucial, offering ultra-low latency access to real-time market data. A fast, stable, and secure communication system, encompassing email and voice services, is essential for swift responses to market opportunities.
Data Security: Protecting sensitive company and client data is a paramount concern. Statistics, such as the 2019 Data Breach Investigations Report by Verizon indicating that 43% of cyber attacks target small businesses, underscore the importance of robust security measures. Data breaches can cause lasting damage to trust, making prevention a top priority.
Data Backup & Disaster Recovery: An integral part of any IT strategy, a comprehensive backup and recovery plan minimizes downtime and ensures seamless business operations in the face of disasters like ransomware attacks, viruses, or natural disasters.
PCI DSS, FCA, and SOC2 Compliance: Compliance with regulations is imperative for financial services, especially in the realms of technology, data, and privacy. Stringent requirements demand a robust IT security plan to secure the IT infrastructure adequately and demonstrate compliance.
CPA firms, private equity and regional banks often require specific support due to challenging employee-to-IT staff ratios and demanding security protocols. Our assistance in managing IT platforms and security offers them the flexibility to establish offices in optimal locations, whether due to seasonal demands or economic opportunities, facilitating their growth. We are here to provided experience service to your financial business.
