Downtime is an issue that impacts every business that utilizes online services or connects with their client base through Web-based portals. While the inaccessibility of these applications and systems is problematic for any company, research shows that financial service firms are hit the hardest by downtime. They need Never Down network reliability.
According to Bank Systems and Technology, a recent CA Technologies report found that of all the industry sectors, banks and credit unions spend the most on dealing with downtime. The report found the typical financial service provider will lose $224,000 in revenues because a system or application is down.
How this impacts the customer
These findings, in connection with EY’s Global Consumer Banking Survey, paint a clear picture of how important a reliable network is for the banking industry. EY’s survey found, among other things, that today’s customers are now looking for an omni-channel experience with their banks. And, as is true for nearly any business, if the firm is unable to deliver, clients will shop around until they find a company that is up to their expectations.
“Increasingly, customer behavior is changing to involve Web, mobile, social media and in-person interactions for a single purchase,” the report stated. “To stay competitive, financial institutions need to continue building out channel capabilities to provide 24/7 real-time access to banking, seamlessly, across channels.”
How can banks guarantee accessible, omni-channel services?
Downtime is clearly something that today’s banks and credit unions cannot risk. But how can these firms guarantee a positive client experience through always-accessible services? Thankfully, Ecessa is here to help.
Ecessa has software solutions specifically created to meet the needs of the banking industry, as well as technology to ensure that the network is never down. Ecessa’s WAN optimization enables a bank to leverage multiple WAN connections so that if one path is down, data can travel along another connection in a seamless manner. This means that resources are always available for the bank’s employees and its customers.
Financial firms should also practice traffic prioritization and load balancing to prevent network bandwidth from being consumed by unnecessary actions. In addition, automatic failover is also helpful to ensure that the network is never down, even if a carrier experiences an outage. These steps represent comparatively small investments that can make a big difference in the long run.
Today’s customers expect a lot from their financial service providers, including constant, round-the-clock access to online resources. Provide for these demands with the help of Ecessa technology and ensure that no matter what, the network is always accessible.