Adapting to the rapidly changing business world is crucial if your business wants to stay ahead. The finance industry is no exception, with the added challenge of navigating a connected network of devices while following strict regulations.
It’s a high-stakes game for financial institutions, but there is hope. This blog delves into the industry’s biggest challenges and how partnering with a managed IT service provider can offer tangible, long-term benefits.
We’ll cover how MSPs:
- Improve data security for financial institutions
- Proactively maintain regulatory compliance
- Drastically reduce (and even eliminate) network downtime
Let’s get started!
Improve Cybersecurity with Managed IT
Did you know that financial organizations are prime targets for cybersecurity breaches? The immense value of the customer data that finance firms possess is like a goldmine for hackers and cybercriminals.
Implementing security measures for email, firewalls, and data storage is crucial to combat cybersecurity threats. That’s where managed cybersecurity comes in, offering comprehensive data loss prevention to keep your business secure.
MSPs develop an end-to-end security strategy for all assets, proactively applying necessary updates, and providing continuous training for end-users to increase their awareness of phishing emails, ransomware, and other scams that can lead to vulnerabilities.
At Integrated Technology, our cybersecurity solutions cover every base, addressing every vulnerability and safeguarding every path to your data. By shifting your organization’s cybersecurity operations to our team of dedicated professionals, you elevate your organization’s security and alleviate the burden on your staff. Our security, privacy, and compliance solutions integrate seamlessly into your business operations, ensuring regulatory compliance.
Maintain Regulatory Compliance with an MSP
Federal regulations require financial institutions to meet specific standards, and credit unions and community banks may have additional state-specific regulations to adhere to, such as backup and disaster plans, cybersecurity, and data procedures.
Noncompliance can result in significant legal, financial, and reputational risks. Fintechs face repercussions like fines, penalties, lost revenue, increased costs, and lasting reputational harm.
Ensure compliance with relevant regulations by partnering with an MSP to implement a range of best practices. These include understanding applicable laws comprehensively, creating a compliance program, conducting thorough risk assessments, providing staff training, implementing monitoring and testing protocols, and reporting noncompliance.
Regulatory compliance services from Integrated Technology satisfy all compliance requirements for your business, protecting your organization’s most sensitive information from unauthorized access and safeguarding you from legal ramifications. By partnering with us, financial institutions mitigate potential risks to their operations.
Reduce Downtime with an IT Partner
Malicious behavior can easily disrupt your organization’s network and system connectivity without the proper protections. Because financial organizations and their customers rely heavily on online portals and applications for accessing data and making payments, downtime can wreak havoc on these businesses.
A finance firm’s greatest asset for reduced downtime is a reliable MSP. A managed IT partner helps protect organizations from large and small threats by implementing data backups, developing disaster recovery plans, and proactively updating software.
Response solutions from Integrated Technology detect malicious activity within your organization’s environment so you can immediately resolve potential disasters and avoid downtime. Our experts tailor a cybersecurity response solution for your business for the most effective protection.
Our high availability and disaster recovery solutions minimize the impact of any downtime to help keep your business moving. They can be applied across multiple operating systems, hardware, physical, virtual, or cloud-based environments to ensure business continuity.
Florida Finance Firms Trust Integrated Technology
Do you worry about keeping your organization safe from constant cyber threats? Integrated Technology has got you covered! Our cybersecurity experts work tirelessly to protect your sensitive data from hacks, breaches, and leaks 24/7. That’s why organizations in Southeast Florida with ten or more employees choose us as their MSP and technology partner. Stay informed, stay alert, and stay secure with Integrated Technology!