The revolution that the Internet has unleashed upon the world is of tremendous significance. From two-bit mom & pop shops to corporations are feeling the ripple, the call to change. The financial sector is no different with over 50% of transactions being conducted through their mobile applications and Internet Banking facilities for the past decade, across the world. The humble ATM alone beats the figures with 85% and is reported to reach a whopping 95% of transaction volume by 2020!
So how deep does technology go within this transformation? Deep. Financial institutions are jumping on board the myriad services offered by the Information Technology firms to compete against the newer next-generation startups with their nimbler technologies hoping to gain on the large corporations. With ideas such as depositing a cheque with a mere smartphone camera and remote bill payment, bank executives are looking far into the horizon to shift their tactical gears and upgrade their reservoir of features and garnering more revenue while keeping the consumer satisfied.
However there are some financial firms that still refuse to get off their rut and conform to the newer generation standards of technologically backed simplicity and innovation. The bank personnel may be demanding greater speed and agility but only to be met by a mute IT department within their confines unable to chug forward and deliver. The frustrations that follow probably lead them to lose customers in the long run.
Why are they bleeding money?
- Rapidly increasing business volumes
- Paralyzing regulations which restrict embracing of innovation
- Inflexible legacy archives
- Red tape and internal strife
- And often, mishires.
This is a larger problem which needs to be addressed strategically by business management heads than IT experts but i would like to stress why you need to upgrade your IT support with professionals who can get the job done and keep your IT infrastructure well oiled and stocked for any innovative climb that jumps forward. The time is nigh that business management professionals and managed IT support services address the challenges that the digital era presents and the opportunities that can be utilized to maximise revenue generation with advanced technological support.
So how can Financial Institutions take the leap of faith?
Financial corporations lack the resources to toss big money onto the arena hoping to galvanise on any IT product which promises to “revolutionise” this industry, neither can small scale tweaks work in enhancing your IT support model. Here are some ways where i believe Financial companies who have let specialised IT professionals handle their IT infrastructure benefits in the longer run:
1- Shape priorities
The emphasis on building a stable relationship between the business and IT support is of paramount importance as nimbler technology can transition long term projects into faster process, new releases and faster absorption of the customer’s feedback to further improve upon.
2- Bigger operational capabilities
Letting a specialised team of IT professionals handle your IT needs help your business to focus on other prime avenues to garner growth.
3- Technological innovation and prowess
Businesses have traditionally laid a massive emphasis on building up an onsite IT infrastructure. It might sound unreasonable, but with the advent of newer technology, we can move your data off to sites managed by Cloud IT infrastructure manned by a skeletal crew of professionals to take care of your needs and concerns. This in turn lets us upgrade the latest innovative features while providing minimum interruption and ease of access across multiple locations with ease.
Preemo is a reliable IT support firm based in Miami and Fort Lauderdale. If you’d like to know more about how to implement cloud technologies in your Financial requirements, give us a call at 305.306.8518.