From banks to credit unions, IT technology needs to be available 100% of the time, both to keep customers happy and to protect their data. With increased consumer demand for 24/7 real-time access to data and accounts, financial institutions must balance meeting the customer’s wishes and the need to also protect data and privacy. Banks and other organizations that handle financial information are prime targets for hackers and cyberattacks. According to IBM Cost of Data Breach Report 2021, the average cost of a data breach for banks and other financial service organizations topped out at $5.72 million in 2021.
As a local or regional bank or credit union, you may not have a full-time CISO who directs and guides your IT initiatives and goals. If you do, your team is likely small consisting of a developer and support services. Servers, applications and cybersecurity systems must be fully integrated, supported and optimized by a knowledgeable team. See the top benefits of strengthening your IT department with managed IT services for financial institutions.
Improving Cybersecurity for Banking & Finance
As one of the top targets of hackers, you want to know your systems and data are being monitored 24/7/365. It’s more than firewalls, email security and antivirus. It needs a holistic plan that also includes real-time threat detection and response, network and architecture scans and more that can detect vulnerabilities from updates or network-connected devices. With managed IT services for banks, your organization can choose from a comprehensive suite of security elements to protect confidential financial data without compromising the user experience and availability to customers.
Find out more with a cybersecurity audit with our team.
Meeting Compliance for Banking
We know banking and finance come with strict governmental regulations. One of the benefits of a managed service IT provider is the variety of certifications and training their teams possess, helping expand the breadth of expertise and resources available to your organization. As an MSP, Computer Solutions has the industry expertise to monitor and make the necessary updates to changes in government and industry requirements, giving you peace of mind that this critical element is always covered.
It is important to note that not all MSPs are the same. The NetWatch Managed Services team at Computer Solutions is specifically certified and trained to provide IT solutions to banks while maintaining compliance with FFIEC and OFAC rules. Working with an MSP that is not certified can lead to violations of law, civil money penalties, law enforcement actions and damage to your banks’ reputation.
Access to Expertise
When you hire an MSP, you gain a larger skillset and expertise without the associated cost of hiring multiple roles for cybersecurity, networking, disaster recovery and more. Our IT support for banks can remove the burden of day-to-day job tickets, maintenance needs and monitoring so your team can focus business growth. Fully customizable managed service solutions can include:
- Secure cloud solutions
- Disaster recovery planning and execution
- Cybersecurity assessment and implementation
- Standardization and automation of IT services where applicable
- IT infrastructure management and maintenance
- End-user device management
You can access industry-leading software, hardware and technology best practices from highly certified experts with a knowledge base that can improve your services. With the right products, you offer more reliable services to your customers. An MSP team can improve your organization’s IT asset management (ITAM). See the top challenges of IT asset management. As an MSP, Computer Solutions is partnered with top vendors like Cisco, Arctic Wolf, Rubrik and more. Learn more here.
Saving Time and Money
One of the biggest benefits of MSPs is that they are affordable and less cost-prohibitive than hiring new staff that includes salaries, benefits and training. Managed IT services can gap fill where you need it and scale to meet your seasonal fluctuations in services, allowing you scalability. Investing in managed IT allows you to plan for unexpected IT emergencies should they arise, saving you valuable time and money.
There is no one-size-fits-all solution when it comes to IT support for banking. With NetWatch Managed Services, you can leave IT to us. From full IT department management and security to unified communications and disaster recovery, our team offers levels of support that can be customized to meet your specific financial sector needs. Keep your bank secure, compliant and running efficiently 24/7. Contact us today to get started.
