Do Not Allow Your Institution to Fall Victim to the Power of One!
Technology has become the lifeblood of today’s financial institution so it is imperative that all technology assets work efficiently. Modern community banks rely on their IT departments to maintain hardware and software and ensure that all systems are functioning optimally when needed. IT is also responsible for monitoring an array of on-going concerns like antivirus protection, patch management and email security, to name a few.
As a result, the network administrator position has become — both operationally and strategically — one of the most important within financial institutions. However, potential problems can occur for many community banks that find themselves with only one person running their IT departments, putting the bank at risk if that person goes on vacation, gets sick, changes jobs, or goes on extended leave. According to a CareerBuilder Job Forecast, the IT Manager/Network Administrator is one of the top five positions with the most turnover.
Strengthen your IT Department and Build Greater Continuity for Your Bank
To help ease the loss of a valuable resource, having a third-party integrated with existing IT staff to augment the department can make the transition smoother and eliminate gaps within operations should a bank’s IT manager leave for any reason. Many financial institutions are turning to IT and security service providers to act as an extension of their organization and help supplement internal IT resources. Outsourcing even a portion of IT provides a level of continuity and stability that can be difficult for smaller community financial institutions to achieve on their own. Often, banks are at the mercy of a single individual, even if there are multiple people in the department, to make sure all activities are completed. The right solution provider can serve as a true partner and work alongside current IT staff to manage the network and streamline technology needs. When the IT staff is out or unavailable, outsourcing critical IT business processes helps fill the personnel gap to provide added peace of mind and stability for the institution.
Use Checks and Balances to Stabilize Your Bank’s IT Outlook
In addition to having increased IT support, outsourcing brings a well rounded perspective to technology needs. This helps avoid a common issue among some community institutions in which the administrator’s level of influence and power can actually influence the institution’s corporate personality and approach to business. For example, a very conservative administrator may prefer not to “rock the boat,” push hard to make improvements or ask for funding and as a result, the institution might end up behind the technology curve in the long run. This creates a less than efficient organization and one that does not meet the growing demands of its customers. On the other hand, a more aggressive approach toward cutting edge technology can lead to excess spending in unproven or high risk technologies. To help balance this, it is good practice to have a trusted outside partner to offer guidance and ensure the bank implements technologies that make sense financially, will enhance current services and align with the institution’s long-term goals.
The right technology service provider should offer your bank full support for the demands of today’s banking technology requirements and truly act as an extension of your internal IT department. At Safe Systems, we understand the ever-growing complexity of community banks’ IT operations and apply that knowledge to providing our customers with an in-depth view of their IT network environments and additional support in co-managing their IT operations. We want to provide bankers with assurance that their institution’s IT network is functioning efficiently, optimally, securely, and is in compliance with industry regulations. No matter what changes an institution goes through, having an outsourced IT partner on the team can help to streamline processes and keep IT operations running smoothly.
Dispelling 5 IT Outsourcing Myths within Financial Institutions
Learn why five of the most commonly believed “facts” about IT outsourcing within community financial institutions are actually myths.
