Providing Data Solutions for Financial Services Companies
Like companies in other industries, companies in the financial services arena face a number of challenges surrounding their data and the data of their customers. While financial services companies are under the gun to improve digital offerings for their customers, they must also comply with stringent industry guidelines due to the sensitive nature of the information they work with.
Let’s take a look at some of the most common challenges faced by financial services companies in 2016.
Next to medical information, financial information is some of the most valuable data hackers can steal. Because of that, financial services companies are a prime target for cyber criminals. So, those companies have to make sure their data is protected by top-notch security protocols, both virtual and physical.
As more financial services customers begin to take advantage of companies’ digital offerings, financial services organizations are hurrying to deliver. Additionally, as more customers continue to move their banking online, banks and other financial services companies have realized that if they don’t offer digital technology, they will likely lose customers. In 2014 alone, banks’ investments in financial technology increased threefold, growing from $4.05 billion to $12.21 billion. All of these investments in digital technology result in an increase in the amount of data being processed.
Another important factor financial services organizations must consider when dealing with customers’ sensitive banking data is the strict regulations that must be met. The majority of data that these organizations work with contains sensitive information – and it’s a lot of data. Regulations that companies must comply with include PCI rel="noopener noreferrer" DSS requirements , SOX and GLBA, just to name a few. And keeping up with these constantly evolving regulations can be very time consuming, taking away from the core business.
Fortunately, there is a way to overcome these challenges. Financial institutions work with QTS because of our extensive experience in developing and delivering scalable, secure IT infrastructure and security services supported by advanced technology platforms.
QTS can deliver fully-implemented colocation, cloud and managed services for customers by increasing efficiencies and reducing capital expenses, all while ensuring you meet the latest compliance standards. Our state-of-the-art data centers feature the systems, people and processes necessary to deliver maximum up-time and reliability, all protected in a secure environment. That’s data solved.
To learn more about QTS’ Financial Services Solutions, click here. For more information rel="noopener noreferrer" on how QTS can help, call toll-free 877.QTS.DATA or follow us on Twitter @DataCenters_QTS.