The benefits of Network as a Service (NaaS) for the financial sector

August 20, 2022
Jana Dorton
Sr. Solutions Enablement Manager

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

Many financial services firms are now enjoying the benefits of Network as a Service (NaaS) to power their network. While similar to Software as a Service (SaaS)—where a single program is accessible from the cloud—NaaS gives a business access to its entire network from any location or device.

NaaS is a scalable method of supporting, maintaining, expanding, and securing today’s commercial networks. As a fully managed networking solution with cloud integration, security, switching, Wi-Fi, management, monitoring, and SD-WAN, NaaS is suitable for a single location or a multi-site operation. Its scalability means that a NaaS solution can be customized to suit the unique needs of each customer.

Learn more about NaaS from CBTS.

With the implementation of NaaS, your financial services firm can see distinct benefits that together save time and money.

Scale your network seamlessly even as you reduce your hardware costs

NaaS allows you to seamlessly scale your network so that you don’t have to spend more money on additional hardware, or more time predicting the effects of expansion and contraction on your network. If you buy infrastructure that cannot handle your organization as it grows, you will spend extra money improving that infrastructure throughout time. On the flip side, if your company becomes smaller, your network will be too big. NaaS can give your business the freedom to evolve without worrying about having the right technology to make it happen. Add bandwidth and even new offices as your business grows, painlessly add or subtract employees from your network without having to search for or acquire additional technology—NaaS can make it all happen, resulting in big benefits for a savvy financial company.

Read more: The Cincinnati Reds are getting the benefits of NaaS

Also, does it seem like the moment you integrate a new product with your network, it’s already out of date? Not surprisingly, your business begins to spend more money and time to update or upgrade equipment, with IT operations struggling to keep up with the rapid pace of technological evolution. However, with NaaS you always have access to the latest features and capabilities without purchasing additional equipment.

Stay up-to-date and secure

In addition to monitoring and installing system updates and patches, the integrated communications solutions company stays on top of the turbulent security landscape, because today’s security threats are costly, not only in dollars but also in reputation.

It can be a full-time job to not only protect your financial network against security threats but also protect your employees and customers across your network. Trust NaaS to keep your network and its users safe with the latest security applications and hardware. Moreover, your integrated communications solutions company stays current with all security patches, updates, and upgrades. NaaS can help you rest more easily knowing that your network is protected while also giving your IT team time to work on business initiatives and giving you more time to focus on your customers.

NaaS benefits the IT teams working to meet financial customer expectations

Technology projects like interactive teller machines and video ATM kiosks that are rising to meet customer expectations will, in turn, create more demand on your systems. Using NaaS enables allocation and throttling to ensure that critical systems can 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.

With a NaaS solution, your business can rely on the integrated communications solutions company to handle the management and monitoring of your network. As a result, your firm spends minimal time on maintaining the network and your IT department is freed up to access cutting-edge technology for projects and business initiatives aimed at creating a more personal customer experience and driving growth.

See how businessess across verticals are leveraging NaaS: How Network as a Service can benefit your business.

By using NaaS, your financial institution or firm no longer has to worry about your network or having the bandwidth and connectivity necessary to function day-to-day. Contact CBTS to learn how reaping the benefits of NaaS will allow your firm to focus on driving financial success for itself and its customers.

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