Technology has always been important to the financial services sector, from the ancient techniques used to mint coins to modern day encryption methods. Recently, however, a specific set of technology concerns have emerged within financial institutions, whether they are huge multination banks or Fintech startups.
[easy-tweet tweet=”#Technology has always been key for #financial services, from ancient minted coins to modern #encryption”]
For example, here at Bluebird we’ve been working with a UK-based tier 2 bank to help with their strategy for expansion and ensuring that the IT infrastructure was robust enough to meet expectations, compliance and regulation. Technology is providing more opportunity than ever before for financial institutions to expand, create new revenue streams, and ultimately overtake more established, but perhaps less agile, industry heavyweights. However, growth is not always easy to manage, which is where Bluebird comes in.
In particular, our IBM Managed File Transfer software is helping financial businesses to achieve scalability while still adhering to the industry’s stringent compliance regulations. Businesses experiencing rapid growth often struggle to manage the volume of files that they need to receive, particularly in the financial sector where the sheer weight of invoices, credit checks and onboarding can becoming overwhelming.
Technology is providing more opportunity than ever before for financial institutions to expand
IBM MFT contains a suite of tools to help businesses overcome these challenges, by providing the security and reliability that their employees and customers demand. Examples of the featured products include IBM Sterling Control Centre, which provides a management solution for all file transfers and associated Service Level Agreements, and IBM Sterling Connect:Direct, a point-to-point file transfer solution optimised for high-volume data delivery between enterprises.
Given the rise of Fintech startups, we’ve also ensured that IBM MFT contains software that is specifically geared for use by firms that may not have a huge amount of time and resources. MFT Go!, for example, is a complete managed service solution for secure data file transfer that is delivered, either on-premise or from the cloud, for a set annual fee. Setting up a secure file transfer system between financial institutions and their partners is required for compliance purposes, but upfront costs can be prohibitive. With MFT Go! however, businesses can remain safe in the knowledge that their subscription charge will not change no matter how quickly they grow and how much data they transfer.
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The reason why financial services are adopting these kinds of IT solutions is because they provide security and reliability in an industry where both are of paramount importance. A single data breach can lead to pay-outs, compensation claims and long term reputational damage that many businesses simply cannot recover from. As such, financial institutions need to be able to move data, both within and between organisations, securely. Unreliable data transfers are also likely to lead to a lack of trust and hinder employee productivity.
At Bluebird IT, we understand the important of both reliability and security in the financial service sector. With more than 30 years’ experience delivering world-leading IBM technology, we’ve worked with countless businesses across a wide range of industries. If your organisation is based in the finance sector, you’ll be acutely aware of how important security is to your partners and customers. At Bluebird we share this view, so why not see if our industry leading B2B file transfer and management technology can help take your business to the next level?