The financial services sector is amongst the most tightly regulated of industries. The implications of compliance, security and performance make frequent changes in technology both complex and counter-productive. As a result, when the time comes to make an investment, any solution is stringently vetted and must deliver against a wide range of acceptance criteria.
Financial services organisations are subject to the internal and external pressures of regulatory compliance, cloud adoption, big data and the global marketplace. However, technology has a vital role to play in business process automation and efficiency.
ONI understand the unique challenges facing the financial services sector, and the FCA guidelines our clients must adhere to when outsourcing to the Cloud and third party IT services. We work closely with banking, insurance and trading organisations to develop a technology roadmap that will facilitate future improvements in systems performance and availability, without impacting on security or cost-efficiency.
Finance Industry Challenges
- Financial services organisations are sometimes reluctant to replace tried and tested solutions; this often translates into legacy IT systems that lack the scalability and connectivity required by modern, agile businesses
- Strict regulatory controls and compliance for data security and storage place additional demands on IT in terms of systems access, security, mobility and the physical location of data centres
- The perceived cost and resource involved in new systems integration mean financial services organisations can be slow to adopt innovative technologies such as Cloud computing and social media
- Organisations that engage in real-time transactions or trading have exacting requirements for high-speed, high-bandwidth networking and connectivity
- Global audience requires 24/7, multi-channel customer service
ONI Solutions for Finance Businesses
- Compliance-focused solutions to meet security and data protection regulations
- IT consolidation and virtualisation to optimize resource use and drive end-to-end process improvements
- High-speed, low latency solutions for time-critical electronic trading
- Visual channel banking and branch of the future
- Converged voice and data networks for greater simplicity, availability, performance and ease of management
- Multi-channel contact centre solutions
- Managed video conferencing