5 Ways NaaS Benefits the Financial Sector

June 20, 2017
Jennifer Goforth Gregory

The financial world is moving quickly, especially when it comes to technology. Everything in your company depends on technology these days, but you need to focus on servicing your customers. You need your network to be reliable and fast so that your key systems are always available to customers and employees. When your network is down, your financial services firm loses significant money with every minute.

Many financial services firms are now using Network as a Service (NaaS) to power their network. It is similar to SaaS, but instead of a single program being accessible from the cloud, the business can access the entire network from any location or device.

By using NaaS, your financial services firm can see the following five benefits:

1. Frees IT Department to Focus on Customer Facing Technology Projects

Your IT department no longer has to spend their time maintaining and administering the network. With NaaS, this is handled by the integrated communications solutions company, and your firm has minimal upkeep for the network. This frees up your IT department to work on technology projects that will create a more personal customer experience.

2. Scale Your Network Seamlessly as You Grow

It’s hard to predict growth. If you buy infrastructure that cannot handle your organization as it grows, you will be spending extra money improving that infrastructure. And on the flip side, if your company becomes smaller, you’ll have too big of a network. By using NaaS, you can add and delete employees without buying any additional technology. You can also add bandwidth and even new offices as your business grows. This allows your business to evolve without worrying about having the right technology to make it happen.

3. Reduced Hardware Costs

Technology has a short life span these days because everything is growing quickly. It sometimes seems that as soon as you have the latest product deployed on your network, it’s outdated, which increases your costs. With NaaS, you always have the latest features and capabilities without purchasing additional equipment.

4. Security

Today’s security threats are costly—both in terms of dollars and reputation. It can be a full-time job to protect your financial network against security threats. NaaS uses the latest security applications and hardware to keep your network safe. Your network is protected, and you can focus on your customers.

5. Ability to Use Cutting Edge Technology

Your customers are expecting to soon see video ATM kiosks in bank branches. By using allocation and throttling, critical systems continue to maintain optimal performance. At the same time, customers and employees still have the network access they need to do their jobs or complete their transactions.

By using NaaS, your financial institution or firm no longer has to worry about your network or having the bandwidth and connectivity necessary to run your firm. You can now focus on your strength—sharing your financial expertise with your customers and ensuring they have a great experience.

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