Why Should Banks Be Using Managed IT Services?

Banks, being a critical part of the financial system, require the best in security and technology.

Unfortunately, managing IT systems in-house can often cause problems, especially for smaller banks and credit unions. The solution is managed IT for banks – where a qualified third-party vendor handles all aspects of IT instead of an in-house IT staff.

Five Benefits of Managed IT For Banks

There are many benefits of managed IT services for banks. They include:

Significant Cost Savings

Maintaining an in-house IT team can be expensive. The costs include desk space, personal equipment, salaries, and benefits. For smaller banking institutions, IT staff may be needed on call to troubleshoot when something goes down but maybe stretched too thin with other tasks.

Managed IT services can also save money on equipment costs, upgrades, maintenance, and software licenses. Centralized management of services can help monitor costs and reduce waste.

Professional Support IT Help Desk

When hiring an in-house tech team, part of the problem is ensuring that the IT staff is up to date on technologies, security issues, and all pertinent operating systems and software solutions. This can be a tall order if the budget for the IT staff isn’t big enough to hire enough people with these vast areas of knowledge. You don’t just want to rely on one “genius” in the event something happens to them.

Outsourcing professional IT support provides your company with a skilled, experienced, and organized team of professionals to track issues, help with products, ands solve problems for your employees and boost productivity. Third party assistance comes with all the benefits of an IT expert without the added costs of a full-time role.

Better Cybersecurity

Banks and credit unions are top targets for hackers, and your company is not safe no matter the size of the business. Cybersecurity is absolutely mission critical for financial institutions. With a professional IT company to protect your company, your assets will be more secure.

With better user access controls, document encryption, and firewalls, managed IT solutions can make a big difference with your bank’s cybersecurity status.

Worry-Free Regulatory Compliance

Banks have strict governmental regulations to follow. With managed IT solutions taking care of keeping up with all the rules, you will always be compliant. No need to waste staff time on keeping up with these regulations in regard to how they impact your technologies.

The comprehensive list of compliance standards lays out the laws and regulations banks must adhere to when it comes to IT and cybersecurity. They must meet standards for internal and administrative controls and safeguards to protect the security of bank information. The laws and regulations lay the groundwork for maintaining the confidentiality and integrity of customer information, including required procedures for reporting unauthorized access or security breaches.

Increased Productivity

With your internal team freed up to focus on other employees, and your primary staff focused on helping customers, managed IT services help improve productivity. Additionally, by keeping all technologies, from printers to desktops, working smoothly, your team doesn’t need to be bogged down with a lot of IT nightmares. Proactive maintenance and upkeep of computer equipment means your workplace will be focused on core business activities instead of putting out fires.

Disadvantages and Risks of Not Having Managed IT Services

For banks, having reliable technology is critical to operations. Some of the risks of not utilizing managed IT services have already been touched upon: financial costs and security are two major issues.

As already explained, one of the major benefits of managed IT is in personnel costs. You can easily lose money on salaries and benefits packages for full-time IT personnel. Worse, what if your full-time IT personnel is not qualified to handle a substantial data breach? The cost of the breach alone may be in the millions. For these reasons and more, managed IT solutions are the safer bet.

Why Choose DOCUmation as Your Managed IT Provider?

The main risk of using a managed IT solutions provider is in choosing the wrong one. A company that is not reliable could cause significant problems for your company. That’s why you want to work with a managed IT solutions provider that has staying power.

DOCUmation has been in business for more than 30 years. We have won many awards and accolades as a leading technology provider in San Antonio, Texas. With our decades of expertise and strong reputation, you can be assured that we will provide you with the best in managed IT services for your bank or credit union.

DOCUmation is a leading managed IT solutions provider serving small, medium, and large banks and financial institutions. For more information on how a managed IT solution can help your business, contact us today.