In a world where technological progress is moving at lightning speed, financial institutions are constantly grappling with the challenges of “keeping up”. The reason for this is strong regulation and complex security challenges that this sector faces, making it difficult to implement new technologies.
However, the thing is that customers expect nothing short of a robust experience from their financial services providers. In addition, the recent shift towards remote work environments has also emphasized the need for the financial industry to up its “tech game”.
So, what’s the solution? Many forward-thinking financial institutions are increasingly turning to Desktop as a Service (DaaS) providers for highly streamlined operations.
This blog addresses the challenges being encountered by the financial sector in managing their hybrid workforce, and also explores how DaaS solutions are helping them overcome these challenges.
Managing a Hybrid Workforce in the Financial Sector
The financial sector can benefit greatly from a flexible and diverse workforce. However, there are challenges that need to be addressed for smooth operations. Let’s take a closer look at some of these challenges.
1. Data security and compliance concerns are a top priority for any financial institution. A hybrid workforce means that sensitive data is being accessed and shared across multiple locations. This increases the risk of data and security breaches.
2. To manage a hybrid workforce, seamless remote access to resources and applications is equally essential. The challenge is to ensure that all the remote employees can access the same resources and applications as on-site employees, including critical financial systems, data, applications and files.
3. Collaboration and communication are vital for success in a hybrid workforce setting but again, it is not without its challenges. It is important that remote and on-site employees have access to effective tools that can enable them to seamlessly collaborate and work together.
4. Finally, cost management and IT support can also be quite challenging for financial institutions, especially when managing a hybrid workforce. Striking the right balance between in-person and remote work, along with providing top-notch tech resources can be a daunting task.
How DaaS Addresses These Challenges?
Now, let’s talk about how Desktop as a Service (DaaS) is revolutionizing the way financial institutions manage their hybrid workforce, and how it tackles all the above-mentioned challenges quite effectively.
Enhanced Cybersecurity and Regulatory Compliance
Data security and compliance concerns have long been a major issue for the financial services industry. However, DaaS offers enhanced security and compliance solutions that can put these concerns to rest.
Some key features of DaaS solutions that ensure data is secure and compliant with industry regulations are mentioned below.
- Centralized Data Storage
- Strong Authentication Controls
- Data Encryption
- Regular Security Updates
- Effective Patch Management
Simplified Remote Access
Simplified remote access is another area where DaaS can help financial institutions manage their hybrid workforce effectively. With DaaS, employees can access their resources from anywhere, anytime, using a consistent interface across multiple devices. This is a great way for the finance sector to not only save time and money, but also allow employees to thrive in a highly competitive environment.
Improved Collaboration and Communication
DaaS solutions also offers seamless file sharing and collaboration tools, as well as integrated communication platforms. This way, remote and on-site employees can work together in a more effective manner.
Cost-Effective and Efficient IT Support
Finally, cost-effective and efficient IT support is essential for managing a hybrid workforce. With DaaS, IT hardware expenses can be drastically slashed, with focus on streamlining IT support and maintenance. This allows financial institutions to concentrate on their core business, rather than being bogged down by IT infrastructure management challenges.
Other Benefits of DaaS for Financial Services Industry
Now, we move towards some additional benefits for the Banking and Financial services providers, which come with adopting DaaS solutions.
- First up, let’s talk productivity. With DaaS, finance professionals have the freedom to work from any location, at any time, with access to all the resources they need. That means no more downtime owing to hardware issues or sluggish connectivity.
- Of course, “with great power also comes great responsibility”, and that’s where DaaS really shines in terms of both security and compliance. Cyberattacks are a constant threat, especially for financial services companies that deal with sensitive customer and financial data. DaaS providers deliver state-of-the-art, multi-layered protection, multi-factor authentication (MFA), and proven back-up as well as recovery protocols to keep companies protected from breaches and other cyber threats
- Let’s also not forget about cost savings. Working with a DaaS provider means shifting IT from a capital expense (CapEx), to a much more predictable operating expense (OpEx). It is a “win-win” situation for finance enterprises looking to streamline their IT budgets, while maintaining focus on their core business objectives.
- Last but not the least, DaaS offers un-rivaled scalability, agility and flexibility, making it a perfect solution for the finance sector with dynamic business needs. With easy addition or removal of users, and highly customizable configurations, DaaS providers can adapt to meet evolving business needs, and keep financial services companies ahead of the curve.
As the financial services industry continues to evolve at a break-neck pace, it is critical for such institutions to have the optimal technology stack at their disposal. That is why Desktop as a Service (DaaS) solutions are quickly becoming the “go-to” option for leading financial services providers.
When it comes to top-notch DaaS solutions, it is hard to match the level of compliance and security being offered by ATSG’s Cloud solutions. With our highly compliant Cloud services and solutions, businesses in general, and the financial sector in particular, can have complete peace of mind.
So, why settle for anything less? Choose ATSG’s industry leading, enterprise grade Desktop as a Service (DaaS) solutions, and take your organization to a whole new level.