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6 Best Practices for Modernizing Financial Services IT

6 Best Practices for Modernizing Financial Services IT

Hi! My name is Ron and this is my friend Bill. I work in financial services and Bill works in IT.

Bill tells me that modernizing IT in my financial institution presents challenges making choosing the right partner imperative. It’s essential that I take a pragmatic value-added path to IT modernization that taps the power of data centers, cloud architecture, mobility, and security to improve operations while containing costs.

Since I don’t know the first thing about how to properly modernize IT at my financial services institution, Bill informs me of the six best practices to achieve this and ensure that I can not only improve customer experience and empower my workers to perform better but at a cost-effective price.

Practice 1: Boost agility with a software-defined foundation. Bill informs me that financial services institutions like mine looking to modernize IT programs are embracing a software-defined everything approach to create a foundation for building agility into the way they deliver services. Traditional IT infrastructure silos are challenging to maintain and change but a modernized data center is virtualized, automated, standardized, and extendable across private, public, and hybrid clouds, making them ideal for innovation.

Practice 2: Improve operational efficiency through IT automation. High-touch, manual lifecycle management for delivery of IT services negatively impacts availability, performance, and resource allocation but IT automation will help my financial services organization dramatically improve operational efficiency.

Practice 3: Accelerate time and market with next-gen application innovation. My financial services organization can support net-gen application development by giving developers ready-to-consume access to modern frameworks and resources that are production-grade, secure, and highly available.

Practice 4: Future-proof by choosing infrastructure that extends to the public cloud. It can be challenging to manage workloads across on-premises, public, and hybrid clouds without a common operating environment. A successful cloud deployment will enable my financial services institution to manage workloads where they make sense, either on-premises or in a public or private cloud, depending on the application type, program or business requirement.

Practice 5: Transform cybersecurity with a software layer. As security remains the top IT priority for my financial services institution, it’s essential that I secure application infrastructure, embrace cloud networking, and unify my organization to improve real-time app performance over standard internet connections.

Practice 6: Increase productivity and customer engagement through mobility. Modern infrastructure enhances agility and flexibility while providing an architecture that securely mobilizes employees. By replacing traditional tellers with digital ambassadors, digitally enabling self-service kiosks to educate customers about products and services, and providing relationship managers with tablets that allow them to conduct client meetings anytime, anywhere, I’ll be able to provide better customer experiences and increase customer engagement.

Now that I know the six best practices for modernizing IT at my financial services institution, I’m ready to provide my customers with a more seamless, effective customer experience.

If you want to learn more about best practices to follow to modernize IT in financial services, click the link below for more information.


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